CityMail International Announces Half Yearly Report 1 January - 30 June 2001.Business Editors 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--(BUSINESS WIRE)--Aug. 21, 2001 CityMail CityMail is a private postal organisation owned by Posten Norge, operating in Sweden (since 1991) and Denmark (since 2007), competing with the state-owned Posten Sverige and Post Danmark. External links
Strong and profitable growth -- CityMail International (the core operation) increased turnover during the first half of 2001 to SEK 80.2 million (23.3). The increase was 244% compared with the first half of 2000. -- CityMail International's profit before financial items for the first half of 2001 amounted to SEK 6.7 million (1.3). -- CityMail Group's profit for the first half of 2001, after financial items but before items affecting comparability, amounted to SEK 5.5 million (-5.6(a)). -- The results after items affecting comparability (write down of Real Logistics and flytta.nu) amounted to SEK -9,5 million (53,8). Strengthened cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. -- After the sale of promissory notes promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. , which were received as part payment in conjunction with the sale of the CityMail Sweden Sweden, Swed. Sverige, officially Kingdom of Sweden, constitutional monarchy (2005 est. pop. 9,002,000), 173,648 sq mi (449,750 sq km), N Europe, occupying the eastern part of the Scandinavian peninsula. business area in July 2000, the cash reserves will be strengthened with approx. 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. 42 million. Contribution of financial funds to Real Logistics is stopped -- Volume forecasts for Real Logistics have not been met. -- The entire investment in Real Logistics, SEK 11.0 million, has been written down. -- The Board of Directors resolved today not to contribute any additional financial funds. (a) A pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma profit and loss account for 2000 has been prepared as if the sale of the Swedish distribution operations was carried out on 1 January 2000. CityMail Group AB's Structure CityMail Group consists of the wholly owned business, CityMail International, as well as a number of part-owned companies and projects. CityMail International, which was started in 1998, constitutes CityMail Group's core business. The business of the jointly owned operations, within interactive address services and logistics, constitutes a supplement to the core operation. CityMail International focuses its operation on coordinating, integrating, and optimising international postal flows, primarily within the customers' administrative customer communications (invoices, account statements, etc). During 2000, CityMail Group underwent a fundamental restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). . The former core operation, the Swedish distribution operations, were sold to a new company, CityMail Sweden AB. Consignia (formerly Post Office) owns 67 percent of this company and CityMail Group owns 33 percent. |
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