STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
GOOD DEMAND IN JM's PRIMARY MARKETS AND STRONG SALES
· According to segment reporting, revenue increased to SEK 3,417m (3,037) and operating profit was SEK 372m (379). The operating margin decreased to 10.9 percent (12.5) due to a change in the project composition in JM Residential Stockholm
· Restated in accordance with IFRIC 15, revenue increased to SEK 3,300m (2,969) and operating profit amounted to SEK 361m (391). The restatement is attributable to JM International and had an effect on earnings of SEK –11m (12)
· Profit before tax decreased to SEK 342m (374). Profit after tax decreased to SEK 261m (283)
· Return on equity for the past twelve months increased to 27.4 percent (26.1). Earnings per share during the first quarter amounted to SEK 3.50 (3.70) · Consolidated cash flow including net investment in properties was SEK –273m (–241)
· The number of sold residential units increased to 843 (697) and housing starts increased to 748 (694).
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 14 billion and the company has about 2,200 employees. JM AB is a public limited company listed on the NASDAQ Stockholm, Large Cap segment.
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