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BRIEF-Land & Leisure H1 EBIT up at DKK 22.5 mln; third party interested in buying company
May 26, 2016 / 5:51 AM / a year ago

BRIEF-Land & Leisure H1 EBIT up at DKK 22.5 mln; third party interested in buying company

May 26 (Reuters) - Land & Leisure A/S :

* Reported on Wednesday H1 net sales of 153.0 million Danish crowns ($23.01 million) versus 142.1 million crowns year ago

* H1 EBIT 22.5 million crowns versus 18.1 million crowns year ago

* 2016 guidance maintained - net sales of 290-310 million crowns, EBIT of 35-45 million crowns and pre-tax profit of 35-45 million crowns

* Said had been negotiating with third party about submission of voluntary conditional public cash offer to buy all outstanding shares in Land & Leisure A/S

* It is expected that Land & Leisure as a result of the dialogue with the third party will incur costs totalling about 7.0 million crowns, of which, costs of 2.5 million crowns will only become payable if the transaction is completed

* Said sale of a real-estate property in a subsidiary and participation in projects in an affiliated entity are expected to imply a gain of 4.0 million - 5.0 million crowns in 2015/2016 financial year

Source text for Eikon:

Further company coverage:

$1 = 6.6484 Danish crowns Gdynia Newsroom

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