STOCKHOLM, Sweden, May 10, 2016 (GLOBE NEWSWIRE) --
First quarter 2016
- Net sales amounted to MSEK 224.1 (218.3). Adjusted for changes in foreign exchange rates growth was 4 percent.
- Profit before tax fell by 24 percent to MSEK 8.8 (11.6).
- Profit after tax decreased by 27 percent to MSEK 5.7 (7.8).
- Earnings per share down 27 percent to SEK 0.31 (0.42).
"Taken overall, the first quarter was not good. Currency adjusted growth was only 4 percent, and earnings decreased. But we expect to make up for this during the year," commented Henrik Ekelund President and CEO, BTS Group.
"BTS North America gave a positive performance with growth of 11 percent and a significant increase in margins. In BTS Other Markets we achieved growth of 13 percent but margins fell due to extensive new recruitment. BTS Europe had a weak quarter with negative growth and earnings. BTS Europe experienced order cancellations from customers in the oil and gas sector, as well as from some companies with significant exposure to emerging markets",commented Henrik Ekelund President and CEO, BTS Group.
"The result before taxes for 2016 is expected to be better than last year," concluded Henrik Ekelund.
For further information please contact:
Head of Investor Relations
BTS Group AB
Phone: 08-587 070 02
Mobile: 0708-78 80 19
About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden, with some 450 professionals in 34 offices located on six continents. We focus on the people side of strategy, working with leaders at all levels to help them make better decisions, convert those decisions to actions and deliver results. At our core, we believe people learn best by doing. For 30 years, we've been designing fun, powerful experiences that have a profound and lasting impact on people and their careers. We inspire new ways of thinking, build critical capabilities and unleash business success. It's strategy made personal.
We serve a wide range of strategy execution and talent development needs. Our services span the employee lifecycle from assessment centers for talent selection and development to strategy alignment and execution initiatives, and from business acumen, leadership and sales training programs to on-the-job business simulations and application tools. We partner with nearly 450 organizations, including over 30 of the world's 100 largest global corporations. Our major clients are some of the most respected names in business: AT&T, Chevron, Coca-Cola, Ericsson, Google, GSK, HP, HSBC, Salesforce.com and Unilever.
BTS is a public company listed on the Nasdaq OMX Stockholm exchange and trades under the symbol BTS B.
For more information, please visit www.bts.com.
Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation. This information has been disclosed according to the Financial Instruments Trading Act and/or Securities Trading Act.
Source:BTS Group AB