Feb 19, 2007. /Lesprom Network/. Net sales for the full year 2006 rose by 11% to SEK 2 billion ($284.1 million) compared to SEK 1.8 billion ($255.7 million) a year earlier. Fourth quarter sales were up by 11% to SEK 523 million ($74.3 million) versus SEK 470 million ($66.8 million) in fourth quarter 2005. Acquired units accounted for most of the sales growth. Adjusted profit before tax for the full year improved to SEK 52 million ($7.4 million) from SEK 42 million ($6.0 million) in 2005. Profit before tax was SEK 2 million ($284 269) versus SEK 34 million ($4.8 million). For the fourth quarter, adjusted profit before tax was at the same level of SEK 14 million ($2.0 million) and profit before tax was SEK 9 million ($1.3 million) compared to SEK 14 million ($2.0 million). Earnings per share after dilution were SEK 2.38 ($0.34) compared to SEK 1.99 ($0.28). The previously announced closure of the group’s factory in Ireland was started in the fourth quarter. A total of 35 employees were given notice and will leave their positions in the first quarter of 2007. The annual savings will amount to approximately SEK 13 million ($1.8 million). One-time closure costs of SEK 21 million ($3.0 million) were charged to profit for the fourth quarter at the same time that the sale of the Irish property provided a capital gain of SEK 16 million ($2.3 million). The previously announced restructuring measures in Germany, Finland and Belgium are proceeding according to plan and will result in a reduction of 125 positions over a two-year period. On completion, the annual savings are estimated at SEK 48 million ($6.8 million). Prices for fine paper were raised on three occasions in 2006 and Bong has subsequently raised its prices to customers, in certain cases with a slight delay. The assessment is that the price hikes that took place in the fourth quarter of 2006 will be fully compensated by price increases in the first quarter of 2007. Bong is one of Europe’s leading envelope companies. The group has an annual turnover of approximately SEK 2 billion ($284.3 million), some 1 400 employees and an annual manufacturing capacity of around 18 billion envelopes at its factories in Sweden, Denmark, Norway, Finland, Estonia, Lithuania, Poland, Germany, Belgium, the UK and Russia. Bong has a very strong market position, particularly in Northern Europe, and conducts sales and marketing in twelve European countries through its own sales organizations. The group sees attractive opportunities for further expansion and development. Bong is a publicly listed company and its shares are quoted on the O list of the Stockholm Stock Exchange.