When announcing the Group's second-quarter results on August 9, 2007, Stockmann stated its estimate that its third-quarter result from continuing operations would be at the previous year's level. Operations have developed favourably during the third quarter, in addition to which the Group will book certain profit-boosting items in its third-quarter result from continuing operations, among them the consideration to be paid for transferring the financing of Loyal-Customer accounts in accordance with the agreement between Stockmann and Nordea announced today. As a consequence of this, Stockmann's third-quarter result from continuing operations, in contrast to the previous estimate, will show a marked improvement on the previous year.

The earnings estimate for the full year is unchanged. In 2006, earnings included sizeable non-recurring items, which will be clearly smaller in 2007 than they were a year ago. Accordingly, the Group's profit before taxes in 2007 will be lower than in 2006. The objective is to post higher operating profit from continuing operations in 2007 than in 2006.


Hannu Penttilä CEO

DISTRIBUTION OMX Nordic Exchange Helsinki Principal media