Knut Almestrand News

The Jotun group generated sales of NOK 4,260 million in the first eight months of 2004, up NOK 496 million on the same period last year. The group recorded profit on ordinary activities before taxation of NOK 468 million, against NOK 379 million in 2003. "We're very pleased with our results so far this year, in terms of both sales and earnings," says CEO Knut Almestrand, adding that good progress was made in most business areas, the exception being marine coatings, which is continuing to battle with weak earnings. Each year Jotun invests substantial amounts in existing and new markets and in the development of new products. A further NOK 150 million was invested in fixed assets during the first eight months of this year.

record results. operating income totalled NOK NOK 4 619 million. continuing high price of raw materials. recorded by Jotun. are contributing to the pressure on margins. increase on last year's corresponding figure of NOK 468 million. from NOK 464 million in 2004. continue to invest in new and existing production facilities. construction of new production units in China and Indonesia.