Interviews
News Flash
Jewellery retailer Signet confirms 10% rise in Q1
12 Jun '06
4 min read
World's largest specialty jewelry retailer Signet Group plc announced its first quarter results for the 13 weeks from 29 January to 29 April 2006.
Group
Group profit before tax increased by 10.0 percent to £30.7 million (Q1 2005/06: £27.9 million). The later timing of Mother's Day in the US is estimated to have adversely impacted the result by over £1.5 million.
Total sales were £419.6 million (Q1 2005/06: £369.2 million), up by 13.7 percent. Like for like sales increased by 2.8 percent. Total sales and like for like sales were both also affected by the timing of Mother's Day. At constant exchange rates total sales increased by 7.2 percent and profit before tax increased by 1.7 percent (see note 8 for reconciliation). The average US dollar rate was £1/$1.75 (Q1 2005/06: £1/$1.89).
Operating profit at £32.2 million (Q1 2005/06: £29.5 million) increased by 9.2 percent. Operating margin was 7.7 percent (Q1 2005/06: 8.0 percent). The tax rate was 35.8 percent (Q1 2005/06: 34.4 percent). Earnings per share were unchanged at 1.1p.
United States (circa 73% of Group annual sales)
Operating profit at £35.8 million (Q1 2005/06: £31.4 million) was up by 14.0 percent and by 5.6 percent at constant exchange rates. Total sales increased by 18.1 percent to £328.3 million (Q1 2005/06: £277.9 million) and by 9.4 percent at constant exchange rates. Like for like sales rose by 3.9 percent.
After taking into account the impact of both a change in the timing of Mother's Day and foreign exchange translation movements, it is estimated that the underlying increase in operating profit was about 10 percent; while the increase in like for like sales after adjusting for the timing difference is estimated to be over 7 percent.
Group
Group profit before tax increased by 10.0 percent to £30.7 million (Q1 2005/06: £27.9 million). The later timing of Mother's Day in the US is estimated to have adversely impacted the result by over £1.5 million.
Total sales were £419.6 million (Q1 2005/06: £369.2 million), up by 13.7 percent. Like for like sales increased by 2.8 percent. Total sales and like for like sales were both also affected by the timing of Mother's Day. At constant exchange rates total sales increased by 7.2 percent and profit before tax increased by 1.7 percent (see note 8 for reconciliation). The average US dollar rate was £1/$1.75 (Q1 2005/06: £1/$1.89).
Operating profit at £32.2 million (Q1 2005/06: £29.5 million) increased by 9.2 percent. Operating margin was 7.7 percent (Q1 2005/06: 8.0 percent). The tax rate was 35.8 percent (Q1 2005/06: 34.4 percent). Earnings per share were unchanged at 1.1p.
United States (circa 73% of Group annual sales)
Operating profit at £35.8 million (Q1 2005/06: £31.4 million) was up by 14.0 percent and by 5.6 percent at constant exchange rates. Total sales increased by 18.1 percent to £328.3 million (Q1 2005/06: £277.9 million) and by 9.4 percent at constant exchange rates. Like for like sales rose by 3.9 percent.
After taking into account the impact of both a change in the timing of Mother's Day and foreign exchange translation movements, it is estimated that the underlying increase in operating profit was about 10 percent; while the increase in like for like sales after adjusting for the timing difference is estimated to be over 7 percent.
Popular News
Leave your Comments
Yohan Lawrence
Joint Apparel Association Forum (JAAFSL)
Navin Sharma
Yash Textile Machines Private Limited
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
