Avanza: Preliminary Financial Statement 2007.STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden -- Regulatory News: * Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased by 22 per cent (60%) to SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 557 million (SEK 455 m) * The profit after tax totalled SEK 233 million (SEK 188 m) * Earnings per share increased by 24 per cent (77%) SEK 8.51 (SEK 6.85) * The number of accounts increased by 27 per cent (23%) to 165,000 (130,000 as of 31st December 2006) and the total savings capital increased by 6 per cent (45%) to SEK 45,900 million (SEK 43,200 m as of 31st December 2006) as of 31st December 2007 * The Board of Directors proposes that a dividend of SEK 6.00 (SEK 4.00) per share be paid Fourth quarter * Operating income increased by 28 per cent (41%) to SEK 151 million (SEK 118 m) * The profit after tax totalled SEK 66 million (SEK 54 m) * Earnings per share increased by 22 per cent (66%) to SEK 2.40 (SEK 1.96) Comments from the Managing Director "Income increased by 22 per cent and profits by 24 per cent in 2007, which means that we more than met our growth targets, despite the stock market doing very little to help us along. Our new long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. profit growth goals have been set at 15-25 per cent per annum Per annum Yearly. . Stock market turbulence turbulence, state of violent or agitated behavior in a fluid. Turbulent behavior is characteristic of systems of large numbers of particles, and its unpredictability and randomness has long thwarted attempts to fully understand it, even with such powerful tools as , however, gives rise to a considerable uncertainty regarding 2008", says Nicklas Storakers, Managing Director of Avanza. "The number of accounts grew by 27 per cent in 2007 to 165,000. Saving in endowment insurance Noun 1. endowment insurance - life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured is incredibly popular right now. Avanza Zero - the no-fee index fund - attracted a lot of new customers, too. Stock market turbulence during the autumn led to increased saving in fixed income products. Levels of interest in strong emerging markets, such as India and China, also continued to be high." "Net savings for 2007 totalled SEK 5,000 million, which is well below our target figure. Net saving levels have been strong during early 2008, however, and Avanza will also be launching a whole string of new services in early 2008 - services that we believe will boost net savings." This information was brought to you by Cision http://newsroom.cision.com |
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