STOCK EXCHANGE RELEASE July 15, 2011 at 10.00 A.M.
WULFF ADJUSTS ITS PROFIT ESTIMATE AND PUBLISHES PRELIMINARY KEY FIGURES FOR JANUARY – JUNE 2011
Financial performance better than forecast
Wulff Group Plc adjusts the financial estimate 2011 published in its interim report for January-March 2011. In its first interim report 2011, Wulff informed that the Group has good opportunities to reach an operating result better than in 2010 as long as the markets continue improving also in 2011 as has been experienced since the last quarter 2010.
The markets have continued improving in the first half of 2011. In January-June 2011, the Group’s net sales continued increasing up to a total of 50 million euros (46 million euros in 1-6/2010) and the preliminary operating profit is 0.5 million euros, which is 1 million euros better than in the first half of 2010 (an operating loss of 0.5 million). The positive financial development results from the increased demand for Wulff’s products and the cost-efficiency improvement initiatives managed successfully.
Wulff adjusts its full-year estimate: the Group’s 12-month net sales in 2011 are expected to increase from the level of 2010 and the operating profit excluding non-recurring items will be better than in 2010. In the financial year 2010, the operating profit excluding the one-off impairment totalled 0.4 million euros.
As announced previously, Wulff publishes its interim report for January-June 2011 on Wednesday
August 10, 2011.
In Vantaa on July 15, 2011.
WULFF GROUP PLC
CEO Heikki Vienola
tel. +358 9 5259 0050 or mobile: +358 50 65 110
NASDAQ OMX Helsinki Oy
Wulff Group Plc is a growing and increasingly international listed company and the Finnish market leader in office supplies. Wulff sells and markets office supplies, business and advertising gifts, IT supplies and ergonomics. Its service range includes diverse fair and event marketing services. In addition to Finland, Wulff operates in Sweden, Norway, Denmark and Estonia. The Group also serves its customers online with a web store for office supplies at wulffinkulma.fi. Wulff Group companies are now branded in black-and-white and with lively Wulff stripe. More information on the Group’s new brand image at www.wulff-group.com.