- Company Announcement FINNLINES INFORMS
Finnlines Plc Stock Exchange Release 10 April 2006
In his report to the Annual Shareholders' meeting today Mr. Antti Lagerroos, President and CEO of Finnlines Plc said that the result for the first three months of 2006 is weaker than the result of the comparable period 2005.
Reasons for this are:
- Due to hard competition the company has not been able to transfer the increases of expenses to freight rates
- Measures to adjust to the changes in the market have been unsufficient in some business areas.
However, the volume development in the main market areas of the company has been satisfactory. The company has already initiated correcting measures, but due to the reasons mentioned the whole year result is not expected to meet the market estimates.
Seija Turunen Christer Antson
DISTRIBUTION Helsinki Stock Exchange
- The re-structuring of Finnlines Deutschland GmbH has been finalised. The company concentrates solely on agency activities in the future. Finnlines Plc writes off EUR 33.5 million on the book value of Finnlines Deutschland GmbH’s shares.
- Finnlines purchases a ro-ro vessel
- Finnlines purchases two ro-ro vessels