Investeringsselskabet Luxor A/S Reports Unaudited Earnings Consolidated Results for the Third Quarter and Nine Months Ended June 30, 2013; Reaffirms Outlook for the Full Year of 2013
For the nine months, the company reported net profit of DKK 4.2 million or DKK 4.2 per basic and diluted share against net loss DKK 5 million or DKK 5.0 per basic and diluted share reported last year. Total income for the period was at DKK 33.95 million against DKK 16.31 million reported last year. Profit before tax was at DKK 5.97 million against loss before tax of DKK 7.15 million reported last year. Cash flows from operating activities was at DKK 2.74 million against DKK 45.23 million reported last year. Basic earnings for the period decreased from DKK 7.3 million to DKK 2.5 million. The reduction is primarily due to lower net interest on bonds as well as higher losses and negative fair value adjustment of credit risk, including DKK 5.0 million on a number of business-related mortgage deeds in the second quarter of the financial year.
The company reported that it has adjusted expected results for the year before tax are to DKK 10.0- 12.0 million against previously DKK 12.0 - 14.0 million. The expected results for the year include basic earnings of an unchanged in the range of DKK 5.0 - 6.0 million.