Manufacturing Industry
SYDBANK A/S - Preliminary announcement of 2007 annual results.
PR Newswire UK Disclose, January, 2008
Sydbank's preliminary announcement of 2007 annual results
Dear Sirs
In 2007 the Sydbank Group generated a highly satisfactory pre-tax profit of DKK
2,257m, equalling a 35% return on average shareholders' equity (Tier 1).
The income statement for 2007 is characterised by:
* 11% increase in core income excl trading income
* 13% rise in trading income
* Growth in costs of 8%
* Income recognition of DKK 568m concerning impairment of loans and advances
* Loss on investment portfolios of DKK 193m
* Gain on sale of non-current assets of DKK 55m.
Core earnings of DKK 2,395m are within the most recent expectations announced
on 11 December 2007.
Profit after tax makes up DKK 1,710m against DKK 1,514m in 2006, equal to a
return of 26% on...
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