UPDATED PROFIT FORECAST FROM INCAP
Incap Groups net turnover in JanuarySeptember was 64.4 million euro and operating profit for the reporting period 1.2 million euro. The growth of net turnover in 2000 is expected to reach the forecast level, which is higher by about one quarter than a year previously. The groups operating profit will be at the same level as last year.
Profitability during the last quarter will probably be affected, even more than estimated, by problems in the availability of components at the different stages of the subcontracting chain in electronics business. Part of the deliveries scheduled for this year will have to be postponed to early 2001. The growth and profitability of furniture business will develop as planned.
Financial information in 2001
Incap Corporation will publish quarterly reports of its financial development in 2001. The corporation will publish its annual accounts and annual report for 2000 as well as interim reports for JanuaryMarch, JanuaryJune and JanuarySeptember.
The annual accounts of 2000 will be published on Friday, 16 Feb. 2001, and the annual report on week 12. The interim reports of 2001 will be published as follows: JanuaryMarch on Thursday, 10 May 2001, JanuaryJune on Thursday, 16. Aug. 2001, and JanuarySeptember on Wednesday, 6 Nov. 2001. The annual general meeting will be held in Oulu on Wednesday, 18 April 2001.
The financial information will be published in Finnish and English. The bulletins will also be available on Incap Corporations website at www.incap.fi.
President and CEO Kari Saarinen was appointed board director for the subsidiaries
Kari Saarinen, President and CEO for Incap Corporation, was appointed board director for Incap Electronics Ltd in an extraordinary general meeting held today. He will take the place of Markku Keski-Filppula, who has resigned his membership of the board.
President and CEO Kari Saarinen was also appointed board director for Incap Furniture Ltd in an extraordinary general meeting held today. He will chair the board of directors.
Helsinki, 14 Dec. 2000
President and CEo