EuroCom Release Financial Results for First Half of 2003

EuroCom Industries (ECI) improved its earnings capacity in H1 2003. Revenue totalled DKK 191 million (+4%) and EBIT was DKK 23 million, up from a loss of DKK 4 million in H1 2002. Profit before tax was DKK 20 million, up from a loss of DKK 10 million last year. The results are in line with ECI's forecasts and, in spite of rather difficult market conditions, performance was in line with the company's plans. Profit before tax for 2003 is expected to be DKK 25-35 million. At its ordinary meeting held today, the Board of Directors of EuroCom Industries A/S (ECI) considered and adopted the company's financial statements for the six months ended 30 June 2003. The interim financial statements are unaudited.