Operating profit rises 2.08% in 2015 at New Wave

16 Feb '16

2 min read

New Wave Group, a Sweden based producer of sports, leisure and home fashion products, posted an operating profit of SEK 255.2 million in 2015 – a rise of 2.08 per cent – as compared to SEK 250 million in the previous year, according to a financial statement released by the company.

The net profit of the company, however, fell by 17.86 per cent to SEK 145.3 million in the year as compared to SEK 176.9 million in 2014.

EPS was SEK 2.16 in 2015 as compared to SEK 2.66 in 2014, a fall of 18.79 per cent.

Total sales at the company were SEK 4,965 million, a rise of 16 per cent in this period as compared to SEK 4,274 million in the prior year.

Commenting on the results, Torsten Jansson, CEO of New Wave Group said, “Operating profit increased by SEK 5 million, despite all the investments and marketing efforts as well as to the result burdened by one-off costs such as Russia and foreign exchange losses.”

“The focus will now be to get the level of profit and operating margin. The operating margin we had is quite ok for a heavy investment phase but now it must begin to increase,” he added.

“I remain very positive forward and very proud of what we are currently performing,” he said. (MCJ)

Fibre2Fashion News Desk – India

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