Losses increase for Nobia as it is in the process of selling its British operations

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Losses increase for Nobia as it is in the process of selling its British operations
Photo: Janerik Henriksson/TT

Kitchen furniture manufacturer Nobia, which is in the process of selling its British operations, reports a pre-tax loss of SEK 131 million for the fourth quarter of last year.

This can be compared to the loss of SEK 25 million in the corresponding quarter a year earlier.

Net sales were essentially unchanged at SEK 1.4 billion during the quarter.

The sale of the UK business - with brands such as Magnet, Gower, Commodore and CIE - is expected to be completed in the first half of this year.

Nobia - which in its home market in the Nordic region sells interior design with brands such as Marbodal and HTH - has also decided to carry out a guaranteed new share issue of SEK 1.5 billion with preferential rights for existing owners.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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