- The Group’s net sales increased by 3 percent to SEK 100.8 million (97.8). Adjusted for exchange rate effects, sales rose by 6 percent to SEK 104.0 million (97.8).
- Operating profit amounted to SEK 13.9 million (12.1), an increase of 15 percent.
- Profit after tax amounted to SEK 10.8 million (8.4), an increase of 28 percent.
- Earnings per share increased to SEK 0.43 (0.34). Fully diluted earnings per share amounted to SEK 0.42 (0.33).
- Brand sales (excluding VAT) decreased by 3 percent to SEK 347 million (358).
- The operations in England will be taken over by the Group.
- Distribution is launched in Estonia, Latvia and Lithuania as well as Poland.
JANUARY 1 – JUNE 30, 2010
- The Group’s net sales decreased by 5 percent to SEK 249.1 million (262.5). Adjusted for exchange rate effects, sales rose by 1 percent to SEK 265.7 million (262.5).
- The gross profit margin increased to 53.0 percent (49.9).
- Operating profit amounted to SEK 50.0 million (49.7), an increase of 1 percent.
- Profit after tax amounted to SEK 36.5 million (37.3), a decrease of 2 percent.
- Earnings per share decreased to SEK 1.45 (1.49). Fully diluted earnings per share amounted to SEK 1.43 (1.49).
- Brand sales (excluding VAT) decreased by 16 percent to SEK 807 million (960).
COMMENT FROM THE PRESIDENT
“A continued focus on our main area, underwear, stood out during the second quarter, which included the successful launch of our Kids collections for boys and girls and several successful product promotions. The trend has improved compared with the first quarter, and we were able to increase our sales and gross margin, while at the same time strengthening earnings. A solution is now in place for our British operations, where we are taking over ourselves to further develop this market. At the same time we are starting cooperations in Estonia, Latvia, Lithuania and Poland,” says Arthur Engel.
