Nordic Business Report-August 14, 2006-Ignis ASA posts Q2 operating loss of NOK17.03m
(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian high-tech group Ignis ASA issued its second quarter report on Monday (14 August), posting an operating loss of NOK17.03m, as compared to a loss of NOK14.01m in the second quarter of 2005.
The weak result was due to costs associated with the build-up of the display division and recruitment costs within the Smartnet business.
Sales amounted to NOK33.84m, up from NOK18.03m in the second quarter of last year.
The sales increase was mainly due to good development within the telecomms and systems divisions.
One Norwegian krone (NOK) is worth approximately 0.09 British pounds (GBP).
((Comments on this story may be sent to email@example.com))