ASG FIRST-QUARTER PROFITS DIVE
First-quarter net profits for ASG, the Swedish forwarding and transport
group, fell to SKr3 million ($400,000) from Skr19 million in the
year-earlier period.
The operating profit for the latest quarter was flat, compared to a
profit of SKr13 million in the first quarter of 1998.
Net sales were down 5 percent, to SKr2.97 billion ($367 million).
ASG said that its international traffic declined during January and
February, particularly from Nordic countries to the European Continent. The
decline in air and sea operations continued, the Swedish company said.
Danzas recently announced a plan to acquire the Swedish company with the
backing of the directors of ASG.