Acando AB (Publ.) Reports Unaudited Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2016; Reports Impairments for the First Quarter Ended March 31, 2016
For the quarter, the parent company reported net sales of SEK 18 million against SEK 16 million a year ago. Total income was SEK 18 million against SEK 16 million a year ago. Operating profit was SEK 1 million. Profit after financial items was SEK 1 million against loss after financial items of SEK 5 million a year ago. Net profit for the period was SEK 1 million against net loss for the period of SEK 5 million a year ago.
In conjunction with the first quarter decision to discontinue operations in India, the company carried out a goodwill impairment of SEK 1 million, the remainder of the change was due to currency effects.