Reduced profits for Bjorn Borg though brand sales roseThursday, 10 November 2011
Clothing Company Bjorn Borg made a profit before tax of Skr32.7 million for the third quarter, though the company reported Good brand sales during the quarter.
That compares with profit of Skr49.8 million corresponding period last year.
Sales totalled Skr160.2 million, compared to Skr171million a year earlier a decreased of 6 percent.
AdvertisementThe gross profit margin was 50.6 percent (52.6). The change is attributable to the operations of Björn Borg Sport.
Operating profit amounted to Skr 33.0 million (51.5). Investments in Björn Borg Sport and the British operations have reduced operating profit according to plan by Skr 5.1 million.
Profit after tax amounted to Skr 24.1 million as against 36.7million a year ago.
Earnings per share amounted to Skr 1.05 (1.46). Fully diluted earnings per share amounted to Skr 1.05 (1.44).
Brand sales (excluding VAT) increased by 9 percent to Skr 551 million aginst Skr507million same period a year ago. Excluding currency effects, sales increased by 11 percent.
“Our brand sales increased by 9 percent during the quarter, and the share generated by smaller markets is growing, in line with our strategy. It is a positive thing that the brand is holding its own in today’s tough market climate. Sales and profit were affected by our forward-looking investments as well as by inventory corrections by our partners after generally weaker-than-expected sales in 2011,” said CEO Arthur Engel.
By Scancomark.se Team
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