Aspo announces final positive decision in Telko's administrative proceedings concerning surtax imposed by Customs.
NORDIC BUSINESS REPORT-June 6, 2019-Aspo announces final positive decision in Telko's administrative proceedings concerning surtax imposed by Customs
(C)2019 M2 COMMUNICATIONS http://www.m2.com
Aspo Oyj (HEL:ASPO) reported on Wednesday that the administrative lawsuit initiated by Telko, a wholly owned subsidiary of Aspo Plc, concerning the surtax imposed by Customs has been processed and is now final.
This administrative lawsuit was related to goods imported by Telko in 2013 and 2014, of which Customs imposed a surtax of EUR1.7m. This surtax of EUR1.7m was expensed in 2015.
The decision of the Administrative Court on 2 April 2019 reduced the amount of the payment to approximately EUR60,000 and since the appeal time has now expired, the decision has become final.
According to Aspo, this positive decision will improve its operating profit by approximately EUR0.2m and financial income by approximately EUR1.4m in Q2 2019. The impact on earnings per share is approximately EUR0.05 per share.
Aspo Oyj is a conglomerate active within shipping, chemicals and electronics. Its brands include ESL Shipping, Leipurin, Telko and Kauko.
((Comments on this story may be sent to email@example.com))