Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Rectangle 212 + Rectangle 212 + Rectangle 212 Created with Sketch. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta. Twitter Created with Sketch Beta. Slice 1 Created with Sketch Beta. Slice 1 Created with Sketch Beta.

STOCK EXCHANGE RELEASE 29 Apr 2004

INTERIM REPORT JANUARY 1 - MARCH 31, 2004

JAAKKO PÖYRY GROUP OYJ     Stock Exchange Notice
                           April 29, 2004 at 8.30 a.m.         1(14)

INTERIM REPORT JANUARY 1 - MARCH 31, 2004

The Jaakko Pöyry Group's net sales for the period under review were EUR
105.4 (102.0 in the same period 2003) million. Profit before
extraordinary items was EUR 5.6 (16.4) million. In 2003 the first
quarter's result included a gain of EUR 11.0 million from the sale of
Jaakko Pöyry Group Oyj's headquarter property.

The Group's consolidated balance sheet is healthy. The equity ratio was
46.9 (51.6) per cent and the net debt/equity ratio (gearing)
-34.7 (-20.8) per cent.

The Jaakko Pöyry Group's earnings per share were EUR 0.25 (0.81) and the
return on investment 17.4 (51.3) per cent.

The Group's order stock was EUR 345.4 million. It increased by EUR 9.7
million during the period under review.

Consolidated net sales will increase clearly during 2004. Profit before
extraordinary items is estimated to improve in 2004, if the capital gain
of EUR 11 million from the sale of the head office property in 2003 is
disregarded in the comparison.

Business groups

Forest Industry

Net sales for the period under review were EUR 47.1 (43.2) million.
Operating profit amounted to EUR 3.5 (3.7) million. A credit loss
allowance of EUR 0.7 million has been taken into account in the first-
quarter result to cover receivables from the Canadian Papier Gaspesia
Inc.

Investment activity in the forest industry has remained low and demand
for consulting services has also been slack. Taking into account the
market situation, the business group's order stock has remained good.
The order stock amounted to EUR 94.6 (at the end of 2003 EUR 90.8)
million. The most important new projects were the rebuild of Mondi Ltd's
paper machine at Merebank in South Africa, Holmen Paper AB's paper
machine project in Spain and Korsnäs AB's paper machine rebuild in
Sweden.

Energy

Net sales for the period under review were EUR 25.0 (24.3) million.
Operating profit was EUR 1.9 (0.8) million. The improvement in operating
profit is due to the strengthening of the business group's market
position and the partial recovery of demand in the energy sector.

The order stock amounted to EUR 133.7 (129.2) million. The increase
consisted of numerous small and medium-size projects in Europe and Asia.


                                                               2(14)

Infrastructure & Environment

Net sales for the period under review were EUR 33.4 (34.4) million.
Operating profit was EUR 1.5 (2.0) million. Traffic systems investments
in Western Europe, especially in Germany, have declined strongly. For
this reason, operations have been streamlined to correspond to the
reduced demand. Non-recurring expenses due to streamlining actions
amounted to EUR 0.6 million during the review period.

The order stock was EUR 117.1 (115.7) million. The order stock remained
good and the increase consisted mostly of numerous small and medium-size
projects in Europe.

Group structure

There were no changes in the group structure during the period under
review. After the period, on April 14, 2004, Jaakko Pöyry Group Oyj and
Verbund AG, Austria, have signed an agreement according to which the
ownership and voting rights in subsidiaries owned by the Verbund group
will be transferred to Jaakko Pöyry Group Oyj as follows:

- 74.9 per cent of Verbundplan GmbH in Austria
- 97.25 per cent of Verbundplan Prüf- und Messtechnik GmbH in Austria
- 95.19 per cent of AQUATIS a.s. in the Czech Republic

The transaction price to be paid for the companies is EUR 6.1 million.
The parties to the deal retain the option to buy/sell the 25.1 per cent
interest in Verbundplan GmbH which remains in the hands of a subsidiary
controlled by Verbund AG. The option can be exercised during 2008. The
parties have the obligation to buy/sell this interest if the other party
so requires.

The companies' combined net sales for 2003 amounted to about EUR 45
million and they employ 470 people. The companies posted a slight profit
for 2003. The companies do not have any interest-bearing debts. The
effect of the deal on the Jaakko Pöyry Group's earnings for 2004 is
expected to be neutral and for 2005 positive.

The Board of Directors of Jaakko Pöyry Group Oyj approved the deal in
its meeting on April 8, 2004. The closure of the transaction is subject
to approval by Verbund's decision-making bodies, the competition
authorities in Austria and the Czech Republic as well as to the
completion of details related to change of control. The necessary
decisions are expected before the end of June 2004.

The Jaakko Pöyry Group will consolidate the acquired companies for the
period January 1 - June 30, 2004 in connection with its interim report
for the second quarter.

About 50 per cent of Verbundplan's net sales is derived from the energy
sector. The main business areas in the energy sector are hydropower,
renewable energy, transmission networks and management consulting.
Twenty per cent of the company's net sales is derived from

                                                               3(14)

transportation and infrastructure systems, with special expertise for
example in tunnelling, and 30 per cent from water and environment
operations. AQUATIS operates in the water and environment sector.
Austria accounts for about half of Verbundplan's net sales. The
company's main international markets are in Eastern Europe and in
countries where hydropower accounts for a notable part of energy
production.

Verbundplan complements the Jaakko Pöyry Group's geographical coverage
in the energy and infrastructure and environment sectors and expands the
Group's areas of expertise, for example in transmission networks.
Verbundplan also broadens the Group's resource base, for example in
hydropower and tunnelling. Moreover, Verbundplan opens up new
opportunities for the Group as the EU expands into Eastern Europe. After
the deal, the company can make use of the Jaakko Pöyry Group's
international network to further internationalise its operations.

Order stock

The Group's order stock is good and it has increased by EUR 9.7 million
during the period under review, totalling EUR 345.4 million at the end
of March, compared with EUR 341.9 million at the end of March 2003. At
the end of 2003 the order stock was EUR 335.7 million.

Capital expenditure

The Group's capital expenditure for the period under review totalled EUR
2.2 (3.3) million, of which EUR 2.2 (2.2) million consisted of computer
software, systems and hardware and EUR 0.0 (1.1) million were capital
expenditure due to business acquisitions.

Share capital and shares

The total number of shares at the end of 2003 was 13 970 601. The Annual
General Meeting on March 3, 2004 decided to cancel 162 700 of the
company's own shares and thus decrease the share capital to EUR 13 807
901. The total number of shares after the cancellation on March 25,
2004, was 13 807 901. After the period under review, in April, 50 700
new shares were subscribed based on warrants pursuant to the Bond Loan
with Warrants issued in 1998. Following these subscriptions, the number
of shares totals 13 858 601.

The Annual General Meeting decided that a dividend of EUR 1.00 be
distributed per outstanding share for 2003 (EUR 0.60 for 2002),
totalling EUR 13.8 million. The dividend was paid on March 15, 2004. The
Annual General Meeting further decided that an additional dividend of
EUR 0.50 be distributed per outstanding share, totalling EUR 6.9
million. The record date for distribution of the additional dividend is
November 23, 2004 and the payment date is November 30, 2004.

The warrants related to the Bond Loan with Warrants issued by Jaakko
Pöyry Group Oyj in 1998 to the Group personnel and the parent company's
Board of Directors carry subscription rights for a total of 1.3 million
of the company's shares. The subscription period ends for all warrants
                                                               4(14)

on April 30, 2005. A total of 660 315 shares have been subscribed based
on the warrants. According to the terms and conditions of the 1998 Bond
Loan with Warrants, the subscribed shares entitle to dividend for the
financial year in which the subscription has taken place. Shares
subscribed in 2004 entitle to dividend for the first time for the
financial year 2004. Other shareholder rights commence when the increase
in share capital has been entered into the Trade Register.

Jaakko Pöyry Group Oyj will pay an additional dividend of EUR 0.50 per
share for the financial year 2003. The new shares subscribed with
warrants during 2004 do not entitle to additional dividend for the
financial year 2003. Accordingly, they cannot be combined with the
company's share JPG1V until after the said record date. The new shares
subscribed with warrants will be registered with the Finnish Central
Securities Depository as a separate book entry category. The company
intends to register the new shares for trading under their own trading
code on the Main List of the Helsinki Exchanges. This will be announced
separately. The new shares will be taken up for trading together with
the old shares JPG1V after the record date for the additional dividend.
This is expected to take place on November 24, 2004.

The Annual General Meeting on March 3, 2004 decided to issue stock
options to the management of the Group as well as to a wholly-owned
subsidiary of Jaakko Pöyry Group Oyj. The stock options entitle to
subscription of a maximum of 550 000 shares in Jaakko Pöyry Group Oyj.
Each stock option entitles the holder to subscribe one share in the
company. The share subscription period shall be the following: for
165 000 shares between March 1, 2007 and March 31, 2010, for 165 000
shares between March 1, 2008 and March 31, 2011, and for 220 000 shares
between March 1, 2009 and March 31, 2012. All stock options have been
issued and their receipt confirmed.

The Annual General Meeting authorised the Board of Directors to decide
on an increase in the share capital by a new issue and/or by taking a
convertible loan and/or by issuing option rights so that based on the
new issue, the convertible bonds and the option rights the share capital
can be increased by a maximum of EUR 1.0 million by issuing for
subscription a maximum of 1.0 million new shares. The authorisation is
in force until March 3, 2005.

The Annual General Meeting authorised the Board of Directors to acquire
and convey the company's own shares to a maximum of 660 000 shares,
which equals less than 5 per cent of the company's share capital. The
authorisations are in force until March 3, 2005.

The company's shares are quoted on the Helsinki Exchanges. The average
trading price during the period under review was EUR 21.56, with a high
of EUR 22.50 and a low of EUR 20.65. A total of 2.3 million of the
company's shares (equalling 16.9 per cent of the total number of shares)
were traded, corresponding to a turnover of EUR 50.5 million.




                                                               5(14)

Adoption of the IAS/IFRS Standards

Jaakko Pöyry Group will report its accounts according to the
International Financial Reporting Standards (IAS/IFRS) from the
beginning of 2005. The reporting systems in the Group are adjusted to
comply with the new requirements and the Group's accounting principles
are already largely close to the IAS/IFRS standards. This applies for
example to the project revenue recognition and property rental
agreements. The most significant open issue is the pension liability.
The interpretation of the pension liabilities is still open. The
adoption of the IAS/IFRS standards does not have a negative impact on
shareholders' equity.

Prospects

In late 2003 and early 2004 the world economy has shown signs of
recovery, especially in North America. Continued economic growth
presumes that no new major political or other uncertainties emerge.

The Jaakko Pöyry Group's market position has strengthened in recent
years. The Group's order stock increased by EUR 9.7 million during the
review period, amounting to EUR 345.4 million. The Group's balance sheet
position and liquidity are also good.

Investment activity in the forest industry has remained low. Demand for
forest industry consulting services has also been slack. If economic
growth picks up during 2004 according to expectations, activities to
prepare and implement investments can be expected to increase. Taking
into account the market situation, the Forest Industry business group's
earnings development during the review period has been good and the
order stock is stable. The business group's operating profit will
increase slightly during 2004 compared with 2003.

The economic recovery in East Asia, China and to some degree in Europe,
together with the expanding EU, creates good opportunities for growth in
demand for energy-related services. This applies in particular to
renewable energy, plant refurbishments and management consulting
services. The business group's earnings development has been good and
the order stock has grown. The business group will clearly improve its
operating profit for 2004 compared with 2003.

Demand prospects for the Infrastructure & Environment business group are
variable. Demand for traffic system expertise will remain good in Latin
America and Asia. In Western Europe, especially in Germany, investments
in traffic systems are declining, which will be reflected in the
business group's activities. Weakening of the market situation may lead
to further streamlining of operations. In the water and environment
sector, demand is expected to remain unchanged. Demand for building
services is still focused on renovation building. The business group's
order stock is good. The operating profit will decline in 2004 compared
with 2003.

The general market situation and economic growth are recovering.
Economic growth is expected to strengthen during 2004. The Jaakko Pöyry
                                                               6(14)

Group's order stock, balance sheet structure and market position are
good. Consolidated net sales will increase clearly during 2004. Profit
before extraordinary items is estimated to improve in 2004, if the
capital gain of EUR 11 million from the sale of the head office property
in 2003 is disregarded in the comparison.

Vantaa, April 28, 2004

JAAKKO PÖYRY GROUP OYJ
Board of Directors

JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen                 Teuvo Salminen
President and CEO                   Deputy to President and CEO


Additional information by:
Erkki Pehu-Lehtonen, President and CEO, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2999, +358 400 468 084
Teuvo Salminen, Deputy to President and CEO, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2872, +358 400 420 285

www.poyry.com

DISTRIBUTION:
Helsinki Exchanges
Major media
























                                                               7(14)

JAAKKO PÖYRY GROUP


Consolidated Statement of       1-3/2004  1-3/2003     1-12/2003
Income
EUR million

NET SALES                          105.4     102.0         411.6

Other operating income               0.3      11.5          12.9
Share of associated companies'       0.1      -0.1           0.2
results

Materials and supplies              -9.7     -12.5         -47.1
Personnel expenses                 -63.1     -58.9        -235.4
Depreciation of consolidation       -1.3      -1.2          -5.0
goodwill
Other depreciation                  -2.1      -2.2          -9.2
Other operating expenses           -24.1     -22.2         -92.6

OPERATING PROFIT                     5.5      16.4          35.4
Proportion of net sales, %           5.2      16.1           8.6

Interest income                      0.2       0.0           1.3
Interest expenses                   -0.1       0.0          -0.8
Exchange rate differences            0.0       0.0          -0.1

PROFIT BEFORE EXTRAORDINARY          5.6      16.4          35.8
ITEMS
Proportion of net sales, %           5.3      16.1           8.7

Extraordinary items                  0.0       0.0           0.0

PROFIT BEFORE TAXES
AND MINORITY INTEREST                5.6      16.4          35.8

Income taxes                        -2.1      -5.3         -10.8

Minority interest                   -0.1       0.0          -0.3

NET PROFIT FOR THE PERIOD            3.4      11.1          24.7












                                                               8(14)

                               March 31, March 31,  December 31,
Consolidated Balance Sheet          2004      2003          2003
EUR million

ASSETS

FIXED ASSETS
Consolidation goodwill              33.1      34.4          34.3
Intangible assets                    4.7       5.0           4.7
Tangible assets                     16.1      23.6          16.2
Non-current investments              9.8      10.1           9.4
                                    63.7      73.1          64.6
CURRENT ASSETS
Non-current receivables              9.0       4.7           9.7
Work in progress                    46.1      42.6          35.4
Accounts receivable                 81.4      75.8          87.0
Other receivables                   11.8      18.9          11.1
Investments, cash in hand and       49.8      38.2          63.1
at banks
                                   198.1     180.2         206.3

TOTAL                              261.8     253.3         270.9

SHAREHOLDERS' EQUITY AND
LIABILITIES

SHAREHOLDERS' EQUITY
Share capital                       13.8      13.8          14.0
Share premium reserve               26.5      24.8          26.3
Legal reserve                       18.2      18.2          18.2
Retained earnings                   38.7      38.9          34.7
Net profit for the period            3.4      11.1          24.7
                                   100.6     106.8         117.9

MINORITY INTEREST                    4.2       4.8           4.2

LIABILITIES *)
Non-current loans from credit       11.2      12.8          11.2
institutions
Other non-current liabilities        7.5      10.0           7.7

Current loans from credit            2.1       2.3           2.2
institutions
Project advances                    38.3      37.0          37.5
Accounts payable                    11.3      14.3          10.6
Other current liabilities           86.6      65.3          79.6
                                   157.0     141.7         148.8

TOTAL                              261.8     253.3         270.9

*) Interest bearing                 13.3      15.1          13.4
   liabilities
   Non-interest bearing            143.7     126.6         135.4
   liabilities
                                                               9(14)

Statement of Changes in         1-3/2004  1-3/2003     1-12/2003
Financial Situation
EUR million

FROM OPERATIONS
   Operating profit                  5.5      16.4          35.4
   Depreciation and value            3.4       3.4          14.2
   decrease
   Gain on sale of fixed             0.0     -11.0         -11.3
   assets
   Share of associated              -0.1       0.1          -0.2
   companies' results
   Change in net working            -7.2       3.3          16.0
   capital
   Financial income and              0.3       0.1           0.6
   expenses
   Taxes                            -1.0      -1.7          -2.8

Total from operations                0.9      10.6          51.9

CAPITAL EXPENDITURE
   Investments in shares in          0.0      -1.1          -5.8
   subsidiaries
   Investments in other shares       0.0       0.0          -0.6
   Investments in fixed assets      -2.2      -2.2          -9.0
   Sales of shares in                0.0       2.5           2.5
   associated companies
   Sales of other                    0.0      10.3          10.4
   Sales of fixed assets             0.4       6.0           8.4

Capital expenditure total           -1.8      15.5           5.9

Cash flow before financing          -0.9      26.1          57.8

FINANCING
   New loans                         0.0       0.0           0.0
   Repayments of loans               0.0       0.0          -1.7
   Change in current financing      -0.1      -4.9          -4.8
   Change in non-current             0.0       0.0          -0.6
   investments
   Dividends                       -12.7      -7.8          -8.4
   Acquisition of own shares         0.0      -0.3          -2.2
   Share subscription                0.0       0.0           1.6
   Translation difference            0.4      -0.9          -4.6

Financing total                    -12.4     -13.9         -20.7

Change in liquid assets            -13.3      12.2          37.1

Liquid assets January 1             63.1      26.0          26.0

Liquid assets at the end of         49.8      38.2          63.1
period

                                                               10(14)

                               March 31, March 31,  December 31,
Contingent Liabilities              2004      2003          2003
EUR million

Pledged assets and mortgages
for own debt
   Mortgages on company assets       0.0       0.0           0.0

Other obligations
   Pledged assets                    0.2       0.3           0.3
   Rent and leasing                107.5     104.4         110.2
   obligations
   Pension obligations               0.0       0.0           0.0
   Other obligations                36.6      22.6          31.7

For others
   Pledged assets                    0.0       0.0           0.1
   Mortgages, real estate            0.0       0.0           0.0
   Other obligations                 0.0       0.1           0.0

Derivative Instruments

Foreign exchange forward
contracts
   Notional values                  20.1       7.2          21.7
   Fair values                      -0.4       0.1          -0.2

Jaakko Pöyry Group Oyj has
made interest rate swaps for
EUR 13.3 million external
loans.























                                                               11(14)

Key Figures                     1-3/2004  1-3/2003        1-12/2003


Earnings / share, EUR               0.25      0.81             1.80
   Corrected with dilution          0.24      0.79             1.76
   effect

Shareholders' equity / share,       7.29      7.77             8.54
EUR

Return on investment, % p.a.        17.4      51.3             27.7

Return on equity, % p.a.            12.2      40.3             21.7

Equity ratio, %                     46.9      51.6             52.3

Equity / Assets ratio, %            40.0      44.0             45.1

Net debt / Equity ratio            -34.7     -20.8            -40.7
(gearing), %

Consulting and engineering,        330.6     336.8            319.3
EUR million
EPC, EUR million                    14.8       5.1             16.4
Order stock total, EUR million     345.4     341.9            335.7

Capital expenditure.                 2.2       2.2              9.0
operating, EUR million
Capital expenditure in shares,       0.0       1.1              6.4
EUR million

Personnel in group companies       4 756     4 611            4 697
on average
Personnel in group companies
at the end of the period           4 758     4 628            4 766
Personnel in associated
companies at the end of
the period                           194       198              191
















                                                               12(14)

Key Figures for the Business    1-3/2004   1-3/2003    1-12/2003
Groups
EUR million

NET SALES

Forest Industry                     47.1       43.2        176.0
Energy                              25.0       24.3         97.6
Infrastructure & Environment        33.4       34.4        138.6
Other                               -0.1        0.1         -0.6

Total                              105.4      102.0        411.6

OPERATING PROFIT AND PROFIT BEFORE EXTRAORDINARY
ITEMS

Forest Industry                      3.5        3.7         16.1
Energy                               1.9        0.8          4.5
Infrastructure & Environment         1.5        2.0          9.0
Other                               -1.4        9.9          5.8

OPERATING PROFIT TOTAL               5.5       16.4         35.4

Financial items                      0.1        0.0          0.4

PROFIT BEFORE EXTRAORDINARY          5.6       16.4         35.8
ITEMS

ORDER STOCK

Forest Industry                     94.6      101.0         90.8
Energy                             133.7      122.0        129.2
Infrastructure & Environment       117.1      118.9        115.7

Total                              345.4      341.9        335.7

Consulting and engineering         330.6      336.8        319.3
EPC                                 14.8        5.1         16.4

Total                              345.4      341.9        335.7

NET SALES BY AREA

The Nordic countries                28.3       31.6        112.9
Europe                              44.2       43.6        174.8
Asia                                15.4       11.8         56.7
North America                        5.4        6.4         26.1
South America                        5.1        3.8         18.4
Other                                7.0        4.8         22.7

Total                              105.4      102.0        411.6



                                                               13(14)

Key Figures for the Business        1-3/02  4-6/02   7-9/02  10-12/02
Groups
EUR million

NET SALES

Forest Industry                       49.7    44.8     37.6      41.6
Energy                                24.1    27.8     30.9      28.4
Infrastructure & Environment          27.0    30.9     28.0      36.8
Other                                 -0.4     0.0     -0.4       0.2

Total                                100.4   103.5     96.1     107.0

OPERATING PROFIT AND PROFIT BEFORE EXTRAORDINARY
ITEMS

Forest Industry                        6.0     3.5      2.3       1.7
Energy                                -1.4    -0.5     -0.3       1.5
Infrastructure & Environment           1.8     1.8      2.3       2.6
Other                                 -1.0    -0.1     -0.8      -1.0

OPERATING PROFIT TOTAL                 5.4     4.7      3.5       4.8

Financial items                       -0.2     0.3     -0.4       0.0

PROFIT BEFORE EXTRAORDINARY            5.2     5.0      3.1       4.8
ITEMS

ORDER STOCK

Forest Industry                       78.2    67.5     79.1      85.2
Energy                               113.2   119.6    125.4     123.8
Infrastructure & Environment          96.9    93.8     97.3      99.4

Total                                288.3   280.9    301.8     308.4

Consulting and engineering           270.5   266.8    292.6     301.6
EPC                                   17.8    14.1      9.2       6.8

Total                                288.3   280.9    301.8     308.4














                                                               14(14)

Key Figures for the Business        1-3/03  4-6/03   7-9/03  10-12/03
Groups
EUR million

NET SALES

Forest Industry                       43.2    45.3     40.8      46.7
Energy                                24.3    23.8     24.2      25.3
Infrastructure & Environment          34.4    35.4     31.2      37.6
Other                                  0.1    -0.2     -0.5       0.0

Total                                102.0   104.3     95.7     109.6

OPERATING PROFIT AND PROFIT BEFORE EXTRAORDINARY
ITEMS

Forest Industry                        3.7     3.8      4.0       4.6
Energy                                 0.8     0.7      1.3       1.7
Infrastructure & Environment           2.0     2.1      2.1       2.8
Other                                  9.9    -1.2     -1.3      -1.6

OPERATING PROFIT TOTAL                16.4     5.4      6.1       7.5

Financial items                        0.0    -0.2      0.1       0.5

PROFIT BEFORE EXTRAORDINARY           16.4     5.2      6.2       8.0
ITEMS

ORDER STOCK

Forest Industry                      101.0    91.6     91.6      90.8
Energy                               122.0   114.9    107.0     129.2
Infrastructure & Environment         118.9   114.3    126.3     115.7

Total                                341.9   320.8    324.9     335.7

Consulting and engineering           336.8   317.0    322.2     319.3
EPC                                    5.1     3.8      2.7      16.4

Total                                341.9   320.8    324.9     335.7


The figures in the interim
report are unaudited