SCHIBSTED ASA RESULT AS PER JUNE 30, 1997
The Schibsted consolidated accounts for the period January 1 to June 30, 1997 were approved at the Schibsted Board Meeting August 19
The groups revenues for the first half of 1997 were NOK 2,563 million, an increase of NOK 31.9% or NOK 620 million compared to the same period in 1996. The operating profit was NOK 368.7 million compared to NOK 258.2 million in 1996, an increase of 42.8 %. In addition to the consolidation of Aftonbladet, the main reasons for this increase are Aftenpostens higher advertising revenues and improved results in the TV/Film area. Net financial items were NOK 94.5 million compared to NOK 44.1 million in 1996. Pre-tax profit was NOK 462.7 million compared to NOK 301 million in 1996, an increase of 53.7%. Net profit was NOK 328.5 million compared to NOK 216.8 million in 1996, an increase of 51.5%.
Key figures for year-to-date 1997 and corresponding figures for 1996 are:
(NOK MILL.) 30.6.97 30.6.96 Change
Total revenues 2 563.2 1 943.0 31.9 %
Operating profit 368.7 258.2 42.8 %
Net financial items 94.5 44.1 114.3 %
Profit before taxes 462.7 301.0 53.7 %
Net profit 328.5 216.8 51.5 %
EPS (NOK) 4.74 3.13
CFPS (NOK) 5.60 4.43
Aftonbladet Hierta AB is consolidated into Schibsted’s accounts as of May 1, 1996.
Schibsteds accounts on Internet
Schibsted’s accounts and Interim Report are available on Internet on Schibsted’s home site, with the address: http://www.schibsted.no
They are also available on http://www.huginonline.no/SCH/DR/sch97k2_e.pdf
Oslo, August 19, 1997
SCHIBSTED ASA
Kjell Aamot
Chief Executive Officer