Brief: Webstep Q2 EBIT Increases To NOK 23.2 Mln

Webstep ASA

26/08/2020 06:05

Aug 26 (Reuters) - Webstep ASA  WSTEP.OL :
    * WEBSTEP ASA: SECOND QUARTER RESULTS 2020
    * REPORTS REVENUE GROWTH AND INCREASED MARGIN FOR Q2 2020
    * REVENUES FOR Q2 INCREASED TO NOK 172.4 MILLION (NOK 162.0
MILLION)
    * Q2 EBIT INCREASED TO NOK 23.2 MILLION (NOK 19.6 MILLION)
    * REVENUES WERE POSITIVELY AFFECTED BY INCREASED HEADCOUNT
AND
HIGHER HOURLY RATES, BUT GROWTH HAS BEEN PARTLY OFFSET BY
DECREASED REVENUES FROM SUBCONTRACTORS
    * COVID-19 OUTBREAK AFFECTED REVENUES NEGATIVELY BY
APPROXIMATELY
NOK 10 MILLION IN Q2
    * WEBSTEP'S OPERATING COSTS, INCLUDING DEPRECIATION, CAME TO
NOK
149.2 MILLION FOR Q2
    * NET PROFIT FOR Q2 WAS NOK 17.7 MILLION (NOK 14.8 MILLION).
    * WEBSTEP EXPECTS THAT DEMAND FOR IT EXPERT SERVICES WILL
CONTINUE
TO INCREASE IN SECOND HALF OF 2020 AND INTO 2021
    * CURRENT OUTLOOK AND FINANCIAL POSITION SUPPORT A 2019
DIVIDEND
PAYOUT
    * BOARD MAINTAINS ITS INTENTION TO DISTRIBUTE DIVIDENDS TO
SHAREHOLDERS IN 2020

Source text for Eikon:  ID:nWkrHbpRT 
Further company coverage:  WSTEP.OL 

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