Business Services Industry
AB Geveko reports new contract in Romania and issues profit warning
Nordic Business Report, July 12, 2006
NORDIC BUSINESS REPORT-12 July 2006-AB Geveko reports new contract in Romania and issues profit warning(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish investment company AB Geveko said on Wednesday (12 July) that its Romanian subsidiary Plastidrum had signed road marking maintenance contracts with the Romanian road administration.
The contracts, valued at approximately SEK800m, cover the national road network and are expected to have a duration of five years.
Plastidrum will carry out the major part of the road marking work.
The contracts would have a positive impact on Geveko's result as from 2007, the company said.
However, in combination with large-scale marketing activities within Geveko's Industrial Operations and a late seasonal start for road marking projects the result of Industrial Operations will be lower in 2006 than in 2005, when the operating result amounted to SEK51m.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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