Press release BoxID: 177944 (Production Resource Group AG)
  • Production Resource Group AG
  • Bredowstr. 34
  • 22113 Hamburg
  • Contact person
  • Lars Schwarz
  • +49 (40) 670886-0

PROCON raises Q1 sales to EUR 21.3 million

Earnings per share rise to 4 cent

(PresseBox) (Hamburg, ) PROCON MultiMedia AG (ISIN: DE0005122006, Prime Standard), an internationally leading full-service provider of technical equipment for events, film and TV productions, achieved another sales increase in the first quarter 2008. The company reports Q1 sales of EUR 21.3 million, a gross profit of EUR 3.6 million (previous year: EUR 20.4 million and EUR 3.4 million, respectively) and a net profit of EUR 0.7 million compared to EUR 0.2 million in the previous year.

EBIT declined from EUR 0.9 million to EUR -0.2 million mainly because of lower book profits from the sale of used rental equipment. As this year's auction is scheduled to take place at a later date, the respective book profits will be reflected in Q2 earnings.

In light of the sustained positive business trend and the continuing positive outlook, the company has recognised deferred tax assets of EUR 1.6 million, resulting in the net profit for the period rising from EUR 0.2 million to EUR 0.7 million. Earnings per share rose from 2 cent in the previous year to 4 cent.

During the first quarter PROCON provided technical equipment for such high-profile events as the Echo awards and the Goldene Kamera awards in Berlin. At present PROCON is acting as a technical full-service provider to the Eurovision Song Contest in Belgrade and is installing PA systems at the Olympic sports venues in Beijing. In addition, the company is gearing up for a number of events related to EURO 2008.