AFARAK SELLS PART OF SAW MILL EQUIPMENT - Q4 PR...

07:05 London, 09:05 Helsinki, 2 January 2015 - Afarak Group Plc, Stock Exchange Release

AFARAK SELLS PART OF SAW MILL EQUIPMENT - Q4 PROFIT FOR THE PERIOD IMPROVES BY EUR 1.77 MILLION

Afarak Group Plc ("Afarak" or the "Company") (LSE: AFRK, NASDAQ: AFAGR) announces that the Company has signed a sale agreement in relation to part of the saw mill equipment the Company acquired in 2008 for the cancelled investment project in Kostroma, Russia. The transaction from the discontinued operation positively affects the Q4/2014 profit for the period by EUR 1.77 million but does not have an effect on EBITDA or EBIT and consequently the outlook of the Company remains unchanged. Cash inflows from this transaction will be of EUR 1.20 million and the release from the provision in relation to the discontinued wood business will be of EUR 0.57 million. The Company aims to sell the rest of the saw mill equipment during 2015.


AFARAK GROUP PLC
Danko Koncar
CEO


For additional information, please contact:

Afarak Group Plc
Danko Koncar, CEO, [phone], [e-mail]

Afarak Group is a chrome mining and minerals producer focused on delivering sustainable growth with a speciality alloys business in southern Europe and a ferro alloys business in southern Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
www.afarakgroup.com

Distribution:
NASDAQ Helsinki
London Stock Exchange
main media
www.afarakgroup.com

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Source: Afarak Group via Globenewswire

HUG#1884077