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Lafuma posts 19.5% growth in H1 profit
11 Jul '07
2 min read
Over the first half of the fiscal year 2006/2007, Lafuma posted growth of 19.5% in its current operating earnings at €4.2m, and a 29.8% increase in its pre-tax earnings.
The decrease of 24% in net earnings is only the consequence of a normal tax base at half year, whereas the group posted tax revenues over the first half of the previous year.
Concerning the other financial results, there was a slight increase in the debt to equity ratio due to winter weather conditions that were unfavorable; the consequences showed up in the inventory and debt of certain customers. This situation will be resolved over the next few months through the combination of operations and diversification of the group's sales networks.
As for the fundamentals of the different business activities in the group, the following is especially noteworthy:
• The 3 most dynamic activities are: camping furniture +9,1 %, LE CHAMEAU +16 % and OBER Jeans, which has an order book at the end of May in line with its annual objectives. These increases are coupled with improvements in profit margins that will be further strengthened over 2008 owing to changes in the industrial organization to support new growth.
• Technical textiles under the Millet and Lafuma brands were negatively impacted by the want of restocking demands over the winter due to disadvantageous weather conditions and a slow start in sales for the spring/summer collections.
• Finally, light textiles such as « Lifestyle » and « Sustainable Development » lines are experiencing high growth for Lafuma, as well as for Oxbow, and moreover have higher mark-up than the technical articles.
The stability of the main 4 Outdoor business activities confirms the group's strategic complementarities in Brand, Product and Country offers; as well as our foresight in our commitment to eco-design.
Click here to view more:
The decrease of 24% in net earnings is only the consequence of a normal tax base at half year, whereas the group posted tax revenues over the first half of the previous year.
Concerning the other financial results, there was a slight increase in the debt to equity ratio due to winter weather conditions that were unfavorable; the consequences showed up in the inventory and debt of certain customers. This situation will be resolved over the next few months through the combination of operations and diversification of the group's sales networks.
As for the fundamentals of the different business activities in the group, the following is especially noteworthy:
• The 3 most dynamic activities are: camping furniture +9,1 %, LE CHAMEAU +16 % and OBER Jeans, which has an order book at the end of May in line with its annual objectives. These increases are coupled with improvements in profit margins that will be further strengthened over 2008 owing to changes in the industrial organization to support new growth.
• Technical textiles under the Millet and Lafuma brands were negatively impacted by the want of restocking demands over the winter due to disadvantageous weather conditions and a slow start in sales for the spring/summer collections.
• Finally, light textiles such as « Lifestyle » and « Sustainable Development » lines are experiencing high growth for Lafuma, as well as for Oxbow, and moreover have higher mark-up than the technical articles.
The stability of the main 4 Outdoor business activities confirms the group's strategic complementarities in Brand, Product and Country offers; as well as our foresight in our commitment to eco-design.
Click here to view more:
Lafuma Group
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