AS PENNU COMPUTER TECHNOLOGY GROUP

ANNOUNCEMENT

26.02.99

 

 

COMMENTARY TO THE UNCONSOLIDATED UNAUDITED  FINANCIAL RESULTS OF THE II 

QUARTER OF 98/99 ECONOMIC YEAR 

 

The unconsolidated net sales of the II quarter of 98/99 economic year 

of AS Pennu Computer Technology Group amounted to 42.5 million EEK, and 

the unconsolidated loss was 30.5 million EEK. 26.5 million EEK of loss 

proceeded from securities-related financial transactions and provisions 

on accounts receivable, as disclosed earlier in relation to the general 

shareholders meeting of 22.12.98.

 

The unconsolidated balance sheet volume of AS Pennu Computer Technology 

Group as of 31.12.98 amounted to 44.1 million EEK, which is 

approximately 2 times less than the unconsolidated balance sheet 

volumes of 30.09.98 and 31.12.97.

 

The volume of unconsolidated current assets of AS Pennu Computer 

Technology Group as of 31.12.98 accounted for 31.4 million EEK, which 

is 71% of the balance sheet volume (the respective figures of 31.12.97 

were 48.1 million EEK, 54%). Compared with the standings of 31.12.97, 

the current liabilities decreased by 17 million EEK, accounting for 67% 

of the balance sheet volume. The non-current liabilities accounted for 

9% of the balance sheet volume. In comparison with 31.12.97, the total 

liabilities decreased by over 13 million EEK. 

 

As of 31.12.98, the volume of owners’ equity amounted to 10.3 million 

EEK, accounting for 23.5% of the balance sheet volume.

 

 

Arho Anttila

AS Pennu Computer Technology Group

Tel. +372 650 5402