Denmark-based tropical timber, panel supplier DLH almost doubles pretax profits to 13M Danish kroner in first nine months; improvement driven by 12% reduction in overhead costs, says CEO
Wendy Lisney
TAASTRUP, Denmark
,
November 16, 2011
(press release)
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DLH maintains its expectations for the year, i.e. an EBIT of approx. DKK 60 million.
‘There is no doubt that market conditions have become more difficult. A number of our customers are more cautious than they were earlier in the year when fortunately, we had already embarked on rationalisation and efficiency measures. This means that despite difficult market conditions, we can deliver the earnings we expected at the start of the year,’ says CEO Kent Arentoft.
CEO Kent Arentoft comments: ‘With the current macro-economic outlook, I’m pleased to report that we have adjusted the organisation so that we can maintain our expectations for an EBIT of approx. DKK 60 million despite the fact that turnover is now estimated to be in the region of approx. DKK 3 billion.’
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