Lammhults Design Group AB Announces Unaudited Consolidated and Parent Earnings Results for the Second Quarter and First Half Ended June 30, 2014
August 21, 2014
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Lammhults Design Group AB announced unaudited consolidated and parent earnings results for the second quarter and first half ended June 30, 2014. For the quarter, the consolidated company reported net sales were SEK 193.7 million against SEK 135.7 million a year ago. Operating profit was SEK 6.0 million against SEK 1.4 million a year ago. Profit before tax was SEK 4.7 million against SEK 0.5 million a year ago. Profit from the remaining business for the period was SEK 3.8 million against nil a year ago. Profit for the period attributable to shareholders in parent company was SEK 3.8 million against nil a year ago. Basic and diluted earnings per share from remaining business were SEK 0.45 against nil a year ago. Basic and diluted earnings per share for the group were SEK 0.45 against nil a year ago. Cash flow used in operating activities was SEK 13.1 million against SEK 6.1 million a year ago. Return on equity was 1.0% against nil a year ago. The group's investments in property, plant and equipment amounted to SEK 4.8 million against SEK 3.4 million a year ago. Investments in intangible assets totalled SEK 2.9 million against SEK 0.9 million a year ago.
For the first half, the consolidated company reported net sales were SEK 379.7 million against SEK 287.3 million a year ago. Operating profit was SEK 11.2 million against SEK 3.7 million a year ago. Profit before tax was SEK 8.2 million against SEK 2.8 million a year ago. Profit from the remaining business for the period was SEK 6.1 million against SEK 1.3 million a year ago. Profit for the period attributable to shareholders in parent company was SEK 6.1 million against SEK 1.3 million a year ago. Basic and diluted earnings per share from remaining business were SEK 0.72 against SEK 0.15 a year ago. Basic and diluted earnings per share for the group were SEK 0.72 against SEK 0.15 a year ago. Cash flow used in operating activities was SEK 7.3 million against SEK 7.4 million a year ago. Return on equity was 1.6% against 0.4% a year ago.
For the quarter, the parent company reported net sales were SEK 1.5 million against SEK 1.3 million a year ago. Operating loss was SEK 4.4 million against SEK 3.0 million a year ago. Profit after financial items was SEK 21.9 million against loss of SEK 3.6 million a year ago. Profit before tax was SEK 21.9 million against loss of SEK 3.6 million a year ago. Profit was SEK 23.1 million against loss of SEK 2.9 million a year ago.
For the first half, the parent company reported net sales were SEK 3.1 million against SEK 2.7 million a year ago. Operating loss was SEK 8.3 million against SEK 6.0 million a year ago. Profit after financial items was SEK 16.7 million against loss of SEK 6.2 million a year ago. Profit before tax was SEK 16.7 million against loss of SEK 6.2 million a year ago. Profit was SEK 19.0 million against loss of SEK 4.9 million a year ago.
Lammhults Design Group AB, formerly Expanda AB, is a Sweden-based company engaged in the design management. The Company operates within three divisions: Office & Home Interiors, Public Interiors and Scandinavian Eyewear. Office & Home Interiors division operates under such brand names, as Lammhults, Abstracta, Borks, Ire and Voice. The area offers barstool and stools, benches and modular seating, sofas and tables, among others. Public Interiors division operates two areas: Project, which offers such brands, as BCI and Schulz Speyer, and After market, offering consumable and exchangeable products through the Eurobib Direct brand. The area offers shelving systems, lighting, displays and counter systems, among others. Scandinavian Eyewear division develops and markets spectacle frames under such brand names, as Skaga, Birka and Cirkus, among others. In September 2013, the Company acquired 100% of shares in Fora Form AS, a Norwegian furniture design company.
LAMMHULTS DESIGN GROUP AB 
