Alm. Brand Formue A/S
Interim report for the first quarter of 2013
Alm. Brand Formue A/S 17.05.2013 13:28 --------------------------------------------------------------------------- Copenhagen, 2013-05-17 13:28 CEST (GLOBE NEWSWIRE) -- Highlights of the attached interim report of Alm. Brand Formue A/S for the first quarter of 2013: -- The company posted a pre-tax profit of DKK 28.1 million in Q1 2013, against a pre-tax profit of DKK 44.4 million in Q1 2012. The profit after tax amounted to DKK 27.9 million, against a profit after tax of DKK 44.2 million in Q1 2012. -- The company achieved a return on equity of 34.3% p.a. after tax in Q1 2013. -- The performance was highly satisfactory, and the company raises its full-year guidance from a profit of around DKK 35 million after tax to a profit of around DKK 50 million after tax. -- The company increased its bond portfolio in the first quarter, and its debt/equity ratio was 2.8 at 31 March 2013. The company's bond portfolio was mainly invested in high-yielding Danish mortgage bonds, whereas the equity portfolio was predominantly placed in export-driven companies which the company believes to be reasonably priced relative to their return potential. At 31 December 2012, the company's debt/equity ratio was 2.7. -- The net asset value per share rose by 9% from DKK 113.25 to DKK 123.56 in Q1 2013. During the same period, the share price rose by 22% from DKK 87.00 to DKK 106.00. At 31 March 2013, the price/net asset value was 0.86. -- In accordance with the adopted share buyback programme, commencing on 7 February 2013 and ending on 31 January 2014, the company is buying back own shares. Under the current share buyback programme, the company has bought 25,945 own shares for a total of DKK 2.6 million, corresponding to an average price of DKK 102 per share. As at 31 March 2013, the company held 356,154 shares in treasury, corresponding to 11.5% of the share capital. Please direct any questions regarding this announcement to Bo Overvad, Director, on tel. +45 35 47 48 49. News Source: NASDAQ OMX 17.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Alm. Brand Formue A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010300276 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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