OIM Plc profitable despite high exceptional costs for listing on September 30, 2010
The Board of Directors of OIM Plc herewith informs the market about its financial results for the accounting year which ended on 31 December 2010. The profit from operations (EBIT) as per 31 December 2010 amounts to € 1,008,000.00. In 2010, the Company faced high exceptional listing costs, which had according to the IFRS accounting rules to be fully incorporated in the reporting year 2010.
The result of the operational activities of the Company increased substantially as a consequence of a better performance of the Fleischhauer Group (EBIT +5.1% as compared to 2009) and the increase of the Company’s stake in the Fleischhauer Group from 60% to 95.9% in the course of 2010. (www.fleischhauer.de)
The equity of the Company increased by 10% to a level of € 6,6 million.
The Board of Directors is confident that the Company will be able to successfully realize takeovers in order to grow the Company.
Although the Board of Directors intends to pay a dividend as soon as possible, this is being prevented at the time by UK rules which are applicable to the company since it is presently registered in the UK. The Board of Directors of the company is considering several options in order to solve this issue.