ALMA MEDIA ACQUIRES BALANCE CONSULTING
ALMA MEDIA STOCK EXCHANGE BULLETIN 27 SEPT 2000 10.00 AM(EET) 1/2 ALMA MEDIA ACQUIRES BALANCE CONSULTING Alma Media has acquired the entire share capital of Balance Consulting Oy, a company specialising in financial statements analysis, from its owners. The companys net sales have been growing 35-40 percent a year and in 1999 totalled FIM 6.9 million. It has 10 employees. Alma Media has acquired the entire share capital of Balance Consulting Oy, a company specialising in analysing company financial statements, from its owners. Balance Consulting Oys main business is producing analyses of annual financial statements for companies. It also produces benchmarking and ranking reports as well as business sector comparisons. Business Consultings analyses, comparisons and reports complement Kauppalehtis content generation activities. Its extensive database of analyses will be used to produce reports and background information for the media and Internet services offered by Alma Medias Business Information Group (BIG). Similarly, BIGs news and background information will support Balance Consultings analyses in the future. Mr Juha Blomster, Vice President, Business Information Group said: öKauppalehti has worked alongside Balance Consulting Oy for a long time, so we know the company well. It has been growing solidly and is profitable. Balance Consulting Oy produces analytical information specifically for companies and therefore suits Alma Business Information Groups purposes very well. We also believe that further development of the companys concept, coupled with Business Information Groups multimedia knowhow, will keep Balance Consulting Oy a strongly developing and profitable enterprise in the future as well.ö Business Consultings database contains the financial statements of more than 10 000 Finnish companies analysed according to the guidelines issued by the Committee for Corporate Analysis. Business Consulting has also analysed the accounts of foreign companies. It produces several thousand analyses every year and its database holds more than 60 000 analyses. The company generated net sales of FIM 6.3 million in 1999. Net sales has been growing at 35-40 percent a year. The company has 10 employees. Balance Consulting has been building up its database of corporate analyses since 1989 on companies with annual net sales in excess of FIM 10 million. Balance Consulting differs from its competitors in its ability to adjust financial statements to conform with the guidelines of the Committee for Corporate Analysis. It also stores more detailed information in its database. Adjusting the financial statements of companies and their financial years makes it easier to compare different companies and thus to draw the correct conclusions on the financial condition and development of the companies studied. The database is built around roughly 200 balance sheet, income statement and other items, plus a further 50 items of information on a company that can be stored if desired. It is also a simple matter to retrieve information such as what company had the highest cash reserves in 1999. Business Information Group is part of Alma Medias B-to-B business area. B-to-B also includes Kauppalehti, Kauppalehti Online and Kauppalehti Online Option, as well as new business units specialising in financial information and its distribution. B-to- Bs new services and products designed for professional investors are based both on newspapers and fixed-line networks and also on real-time information distributed via mobile networks. ALMA MEDIA CORPORATION Terhi Lambert Communications Manager Further information: Mr Juha Blomster, Vice President, Business Information Group, Juha Blomster, +359-9-507 7530 Mr Ari Rajala, Chief Analyst, Balance Consulting Oy, +358-9-6850 3135 or +358-40-505 8289, www.balanceconsulting.fi Distribution: Helsinki Exchanges, principal media
- Date: 27.9.2000, 08:00
- News type: Stock exchange release
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