Brief: Alm. Brand Q2 Pre-Tax Profit Rises To DKK 497 Mln

ALM. Brand A/S

17/08/2023 07:21

Aug 17 (Reuters) - ALM. Brand A/S  ALMB.CO :
    * INTERIM REPORT FOR Q2 2023
    * WE'VE HAD A GOOD Q2, REPORTING A HISTORICALLY STRONG
INSURANCE
SERVICE RESULT
    * OUR PERFORMANCE WAS TO A LARGE EXTENT DRIVEN BY OUR
COMMERCIAL
LINES
    * WE'RE STARTING TO SEE RESULTS OF OUR
PROFITABILITY-ENHANCING
MEASURES
    * WE CONTINUE INTEGRATION EFFORTS WHERE WE'RE NOW IN FACT
SLIGHTLY
AHEAD OF SCHEDULE IN TERMS OF SYNERGIES
    * INITIATIVES TO REALISE EXPECTED SYNERGIES IN A TOTAL
AMOUNT OF
DKK 600 MILLION BY 2025 ARE PROGRESSING SATISFACTORILY AND
SLIGHTLY AHEAD OF SCHEDULE
    * FOR QUARTER, SYNERGIES ARE ESTIMATED TO HAVE HAD A
POSITIVE
ACCOUNTING EFFECT OF DKK 62 MILLION
    * ON 6 JULY 2023 (SEE COMPANY ANNOUNCEMENT NO. 13/2023),
ALM.
BRAND GROUP UPGRADED ITS GUIDANCE
    * INSURANCE SERVICE RESULT OF DKK 507 MILLION IN Q2 2023,
AGAINST
DKK 378 MILLION IN YEAR-EARLIER PERIOD
    * PRE-TAX PROFIT OF DKK 497 MILLION EXCLUDING SPECIAL COSTS
IN Q2
2023, AGAINST A PRE-TAX PROFIT OF DKK 3 MILLION IN Q2 2022

Source text for Eikon:  ID:nGNE5gkhjn 
Further company coverage:  ALMB.CO 

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