STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
STABLE END OF YEAR IN HOUSING BUSINESS
● According to segment reporting revenue increased to SEK 13,134m (12,217) and operating profit decreased to SEK 1,398m (1,544). The operating margin decreased to 10.6 percent (12.6).
● Restated in accordance with IFRIC 15, revenue increased to SEK 12,480m (12,001) and operating profit decreased to SEK 1,374m (1,513)
● Profit was burdened by an impairment loss on project property of SEK 95m (-)
● Profit before tax decreased to SEK 1,318m (1,463). Profit after tax decreased to SEK 961m (1,042)
● Return on equity for the past twelve months amounted to 20.7 percent (24.5). Earnings per share during the year amounted to SEK 11.70 (12.50)
● Consolidated cash flow including net investment in properties increased to SEK 979m (733)
● The number of sold residential units was 2,952 (3,112) and housing starts decreased to 3,163 (3,629). Large share of sold residential units and housing starts during the fourth quarter
● Surplus value of development properties SEK 2.6bn (2.4)
● The Board of Directors proposes a dividend of SEK 6.75 (6.50) for 2012, as well as renewed buy-back authorization.
JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 13 billion and the company has about 2,300 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.
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