DLH achieved turnover of DKK 781 million ($147 million) in 1Q

May 25, 2011. /Lesprom Network/. DLH saw sustained positive trends during the 1Q where EBIT increased as a result of growth in turnover, as the company said in a press release received by Lesprom Network. In the 1Q 2011, DLH achieved a turnover of DKK 781 million ($147 million) against DKK 740 million ($139 million) for the same period last year. The 1Q, therefore, proceeded satisfactorily with a 6% growth in turnover. The growth, however, should be seen in the light of the fact that turnover in the 1Q last year was affected by the very cold winter in Northern Europe and, therefore, a weak trend in the construction industry. Easter, which normally means lower activity levels, also occurred during the 1Q 2010. Gross profit was DKK 116 million ($21.8 million) for 1Q corresponding to an increase of DKK 7 million or 6% compared to the same period last year. The gross margin increased by 0.1% points to 14.8% from 14.7% for the same period last year. The Group’s overhead costs amounted to DKK 93 million ($17.5 million) against DKK 99 million ($18.6 million) for the corresponding period last year. EBIT (earnings before interest and tax) for 1Q 2011 was DKK 16 million ($3 million) compared to DKK 3 million ($564,090) for the same period last year. The pre-tax profit for 1Q (continuing operations) totalled DKK 4 million ($752,120) against a loss of DKK 10 million ($1.9 million)the previous year. The Group’s profit after tax (continuing operations) for 1Q totalled DKK 1 million ($ 188,030) against a loss of DKK 7 million ($1.3 million)for the comparative quarter of 2010. The result for discontinued operations was a loss of DKK 5 million ($1 million) in part as a result of a currency adjustment item on the sale of the group’s British company. DLH’s turnover in Russia in 1Q 2011 was DKK 33 million ($6.2 million) equating to 4% of the total group turnover. Turnover for the region is on a par with the corresponding period in 2010. While strongly positioned with regard to sales of plywood, the group has a less strong position in the timber market. "We have made a good start to the year with sales growth and increased profitability as a result of the adjustments we implemented last year. We have a sound platform on which to continue to execute DLH’s growth plans," says CEO Kent Arentoft. DLH is a Danish owned group quoted on the Copenhagen Stock Exchange and since 1908 trading in timber and wood products all over the world.