Property sales boost Brio results

Brio in Q1 turnaround as losses improve thanks to property deals.
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Brio has published its latest first quarter figures posting an operating profit of SEK45.5m, against a loss of SEK31.9m in the first quarter of 2007.

The improvement was mainly due to gains from the sale of two properties, and excluding the property sale the result amounted to a loss of SEK29.5m.

The net turnover amounted to SEK173.0m, down from SEK181.1m in the first quarter last year. 

The firm said that it experienced a continued weak decline in sales as the market continues to turn from traditional toys to video and computer games.

Earnings per share amounted to SEK3.85, up from a loss of SEK4.00 in the first quarter last year. 

One British pound is worth approximately 11.73 Swedish kronor (SEK).

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