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Growth from new stores continues to be good, Kappahl
29
Sep '10
KappAhl, a leading fashion chain announced 2009/2010 year end report.

Fourth quarter (June - August 2010)

• KappAhl's net sales for the period amounted to SEK 1,290 (1,226) million, an increase of 5.2 per cent.
• The operating profit was SEK 156 (176) million.
• The gross margin was 59.6 (61.4) per cent and the operating margin was 12.1 (14.4) per cent.
• Profit after tax was SEK 125 (106) million, which is equivalent to SEK 1.67 (1.41) per share, which is positively affected by tax revenue of SEK 45 million.
• Cash flow from operating activities was SEK 222 (100) million.

Full year (September 2009 - August 2010)

• KappAhl's net sales for the period amounted to SEK 5,111 (4,866) million, an increase of 5.0 per cent.
• The operating profit was SEK 551 (526) million.
• The gross margin was 61.8 (61.1) per cent and the operating margin was 10.8 (10.8) per cent.
• Profit after tax was SEK 402 (315) million, which is equivalent to SEK 5.36 (4.20) per share, which is positively affected by tax revenue of SEK 84 million.
• Cash flow from operating activities was SEK 507 (504) million.

Christian W. Jansson, President and Chief Executive Officer:
For the full year we see the gross margin continuing very strong and well in line with the targets we have set. Growth from new stores continues to be good and we have succeeded in improving the growth rate in existing stores, though here we have more to do.

At the same time we have clearly strengthened our financial position, which is shown in an increased equity/assets ratio and reduced debt/equity ratio.

The company and the concept stand firm and there are more towns and markets where we fit in.

KappAhl is a leading fashion chain with almost 350 stores and 4 800 employees in Sweden, Norway, Finland, Poland and the Czech Republic. KappAhl sells value-for-money fashion with a wide appeal - to women, men and children - and focuses in particular on women aged 30-50 with families. All clothes are from our own designers. In 1999 KappAhl was the first fashion chain to be environmentally certified. In the 2009/2010 financial year KappAhl's net sales were SEK 5.1 billion and operating profit SEK 551 million.

KappAhl


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