In the second quarter the Danish timber trading group DLH was confronted by a 2% decline in turnover to DKK649m. According to preliminary figures, the EBIT amounts to DKK4m. This follows a 22% decline in turnover in the first quarter to DKK486m. As DLH announced on 15th July the company was able to achieve growth of 28% overseas in its global sales markets in the second quarter, whereas warehouse-based business in Europe declined by 16%. The gross margin declined by 2 percentage points, principally on account of changes in the turnover mix.
For the current 2013 financial year, on account of the expected continuation of the weak business development in Europe, DLH now anticipates turnover to the amount of DKK2.2bn and an EBIT to the amount of -DKK30m to -DKK40m. At the end of May the company had still expected negative EBIT of just -DKK8m.