Good start for Jotun in 2004
more than for the same period in 2003. last year. more closely reflected the group's growth. Profit in 2003 was one of the biggest in Jotun's history. materials and reduced margins. total can be maintained at a satisfactory level and similar to last year. Middle East and South-East Asia. companies were higher than the previous year. in the Middle East. systems for mixing colors in stores. this area. year. influence on the division's profit. time and will not give rapid financial results. Norway. In Europe activity varied. in the USA sales increased.
Jotun Reports Good Financial Results
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.
