TK Development A/S reported unaudited consolidated earnings results for the first quarter ended April 30, 2016. For the quarter, the company reported net revenue of DKK 45.7 million against DKK 40.7 million for the same period in the last year. Operating loss was DKK 0.5 million against DKK 4.0 million for the same period in the last year. Loss before tax was DKK 4.1 million against DKK 5.9 million for the same period in the last year. Loss for the period was DKK 3.7 million against DKK 6.7 million for the same period in the last year. Negative return on equity was 1.1% against 1.8% a year ago. The Group's cash flows used in operating activities was DKK 66.9 million against DKK 18.4 million a year ago. Net interest-bearing debt amounted to DKK 1,086.1 million at 30 April 2016 against DKK 997.4 million at 30 April 2015.

The company expects consolidated results before tax for 2016/17 to total DKK 10 to 30 million.