STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
DEVELOPMENT FOR THE HOUSING OPERATIONS CONTINUES TO BE FAVORABLE
-- According to segment reporting, revenue increased to SEK 6,521m (6,244) and operating profit increased to SEK 785m (709). The operating margin increased to 12.0 percent (11.4)
-- Restated according to IFRIC 15, revenue increased to SEK 6,495m (6,094) and the operating profit increased to SEK 820m (638). The restatement is attributable to JM International; profit increased by SEK 35m (–71)
-- Profit before tax increased to SEK 790m (609). Profit after tax increased to SEK 599m (457)
-- Return on equity for the past twelve months increased to 29.9 percent (23.5). Earnings per share for the first six months of the year increased to SEK 7.80 (5.70)
-- Consolidated cash flow including net investment in properties was SEK 290m (–187)
-- Number of sold residential units was 1,485 (1,652) and housing starts increased to 1,410 (1,382). Conditions for increased housing starts in Norway during the second half of the year.
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 emphasis 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 seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 13 billion and the company has about 2,200 employees. JM is a public limited company listed on NASDAQ OMX Stockholm, in the Large Cap segment.
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