- The Group’s net sales increased by 10 percent to SEK 171.0 million (155.2). Excluding currency effects, sales rose by 11 percent to SEK 171.6 million (155.2).
- The gross profit margin increased to 52.6 percent (50.8).
- Operating profit amounted to SEK 51.5 million (43.5), an increase of 19 percent.
- Profit after tax amounted to SEK 36.7 million (30.1), an increase of 22 percent.
- Earnings per share increased to SEK 1.46 (1.20). Fully diluted earnings per share amounted to SEK 1.44 (1.19).
- Brand sales (excluding VAT) increased by 1 percent to SEK 507 million (502).
- A letter of intent has been signed on distribution in Switzerland.
JANUARY 1 – SEPTEMBER 30, 2010
- The Group’s net sales increased by 1 percent to SEK 420.1 million (417.7). Excluding currency effects, sales rose by 5 percent to SEK 437.3 million (417.7).
- The gross profit margin increased to 52.8 percent (50.2).
- Operating profit amounted to SEK 101.5 million (93.2), an increase of 9 percent.
- Profit after tax amounted to SEK 73.2 million (67.4), an increase of 9 percent.
- Earnings per share increased to SEK 2.91 (2.68). Fully diluted earnings per share amounted to SEK 2.87 (2.68).
- Brand sales (excluding VAT) decreased by 11 percent to SEK 1,305 million (1,462).
QUOTE FROM THE PRESIDENT
“During the third quarter a number of new products reached stores, including constructed bras and boxer shorts, and the pace of product development remained high. The footwear operations licensed out at the beginning of the year are developing positively, and we feel that focusing the Group’s resources on our main area, underwear, is producing results. As a whole, the third quarter showed that the positive trend earlier in the year is continuing. We were able to report higher sales as well as improved income and favorable margins”, says Arthur Engel.
For further information, please contact:
Arthur Engel, President and CEO, telephone +46 8 506 33 700
Johan Mark, CFO, telephone +46 8 506 33 700
Björn Borg is required to make public the information in this report in accordance with the Securities Market Act.
The information was released for publication on November 11, 2010 at 7:30 a.m. (CET).
