Slight Q3 gains for Tybring-Gjedde


22 October 2004 – Oslo (NOR): Norway’s Tybring-Gjedde has reported a rise in Q3 earnings, thanks to an enlarged sales force, new dealership agreements and expansions into new regions where it is not competing with the Binders chain.

The quarter recorded sales of NOK 345.5 million ($53 million), up two per cent from NOK 338.8 million ($52 million) in the same quarter last year. Net profit lifted from NOK 2.6 milliion to NOK 6.3 million.

The Board said it expects group profit for 2004 to exceed 2003’s profit to a substantial degree.

Moving forward, the group plans to focus on short-term as well as long-term sales promoting measures, combined with strict control over costs and gross contribution margins.