JM, one of the Nordic regions leading developers of housing and residential areas, reports significantly increased profitability and continued strong sales over the year 2005.
The highlights are:
- Income increased by 16 percent to SEK 9,887m (8,532) and the number of sold residential units totaled 4,240 (4,315)
- Earnings before tax improved substantially to SEK 1,151m (647) and profit after tax for the year rose to SEK 976m (474). The operating margin increased to 12.5 percent (9.3)
- Property sales of SEK 1,752m (1,018) provided capital gains of SEK 247m (164)
- Return on equity increased to 28.8 percent (14.4). Earnings per share increased to SEK 37.00 (16.90)
- Interest-bearing net liabilities decreased by SEK 2.1 billion to an interest-bearing net receivable of SEK 1.5 billion (-0.6). The Groups cash flow, including property sales, was robust and totaled SEK 3.4 billion (2.2)
- The Board of Directors proposes a dividend of SEK 10 (7) per share. In addition the Board proposes a distribution of approximately SEK 1.0 billion through redemption of shares corresponding to approximately SEK 40 per existing share.
- The Board of Directors proposes a 4:1 share split.