Thursday, 11 October 2012

Net profit for Norwegian non-financial limited companies fell 23 per cent in 2011

Statistics Norway reports,

Accounting statistics for non-financial limited companies. Preliminary figures 2011.
Net profit fell
Net profit for non-financial limited companies fell from NOK 457 billion in 2010 to NOK 352 in 2011, which was a decline of NOK 104 billion or 23 per cent.
Profit after tax went down in 2011 despite an increase of NOK 166 billion in operating profit. This was due to a decrease in net financial items of NOK 217 billion, from NOK 228 billion in 2010 to NOK 11 billion in 2011. Substantial write-downs of financial assets coupled with lower financial income resulted in a significant fall in net financial items.
Lower profitability
Owing to the fall in net profit, the return on equity percentage went down from 12 per cent in 2010 to 9 per cent in 2011. In other words, a profit of about NOK 12 per invested NOK 100 in 2010 dropped to NOK 9 in 2011.
Net profit for mainland Norway almost cut in half
Limited companies on mainland Norway had NOK 192 billion in net profit, down from NOK 340 billion the previous year. The fall in net profit on mainland Norway was also caused by net financial items, which went down from about NOK 187 billion to NOK 37 billion in 2011.

 

The preliminary statistics for 2011 are based on accounts from 196 222 companies.

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