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11.08.1999

Half-year results 1999




Operating revenue for the Visma Group totalled NOK 151.4 million (144.1 million) in the first half-year of 1999. Operating profit for the period amounted to NOK 16.4 million (2.5 million), an increase of 556% on the first half-year of 1998. Profit after financial items and before tax was NOK 19.3 million (3.7 million) for the first half-year of 1999. The operating margin for this period was 10.8% (1.7%).
At 30 June 1999, shareholders' equity amounted to NOK 150 million, which is 65% of Visma's total assets.

Both the Marine and Business divisions made good progress in the second quarter, with Marine generating an operating margin of a full 16.3%. Visma Logistics had a one-time expense of NOK 2.5 million for winding up the operation in Sweden.

Visma expects its strong performance to continue in the third quarter of 1999. 


Key figures, 1st half-year:          1999        1998



(NOK million)

Operating revenue                    151.4         144.1

Operating expenses                   135           141.7

Operating profit                     16.4            2.5     +556%

Profit after financial items         19.3            3.8     +408%



Shareholders' equity                 150.2           99.3    +51.2%

Total assets                         232.2          201.3

Equity ratio                          65%            49%




Contact:
�ystein Moan, CEO
Tel.: (+47) 23 13 65 00
Fax: (+47) 23 13 65 01