News
16.02.2009
Hagar News Release
The operations of Hagar have been quite satisfactory during the present business year, which ends as the present month of February comes to an end. It can be assumed that the Company’s performance as regards financial items and depreciation will be better than for the business year that ended in February 2008. In that year, the total performance for financial items and depreciation amounted to ISK 2,906 million.
However, the Company's financial items are in the negative, among other things due to the great devaluation of the Icelandic króna, inflation that soared far beyond all expectations, and due to the depreciation of investments, some of which is described in the Company’s semi-annual financial statement that was published last October.
Hagar is therefore in a strong position, with regard to both the Company’s operations and finances.
Sincerely,
Mr. Finnur Árnason
CEO of Hagar hf.
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