Brantano Group H1 turnover drops 3.8% to €140.3m

18 Jul '06

4 min read

The consolidated turnover of the Belgian shoe manufacturer Brantano Group during the first six months of 2006 was €140.3 million and therefore down by 3.8 percent compared with the turnover earned in the first six months of 2005.

The Brantano Group is selling one of the Brantano stores which it owns in Belgium and transferring the lease rights of one of its outlets back to its owner in the United Kingdom. It achieves a capital gain before tax of €2.2 million on this transfer and sale.

On June 30, the Brantano Group achieved a turnover of €140.3 million, which was 3.8 percent lower than the €145.9 million it earned in the first half of last year. Excluding exchange rate effects, it also decreased by 3.8 percent.

Out of the total group turnover of €140.3 million, Belgium (including Luxembourg) accounted for €69.0 million and the United Kingdom (including the Middle East) €71.3 million. The turnover in Belgium (including Luxembourg) thus accounts for 49.2 percent of the group total and the turnover for the United Kingdom (including the Middle East) 50.8 percent.

Turnover in Belgium (including Luxembourg) was €69.0 million in the first six months of 2006 compared with €69.7 million in the first six months of 2005. Like-for-like turnover growth (turnover growth in stores open for over 12 months) was slightly negative at – 0.7 percent.

The development in turnover in the first quarter was negatively influenced by the extremely cold monthof March and by the fact that the Easter holidays fell fully in the second quarter. Despite the unfavorable weather for the sale of summer shoes in April and May, the Group caught up in Belgium and it nearly made up for the total backlog of the first quarter.

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