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Van de Velde records higher turnover growth
25 Feb '08
3 min read
The net financial result fell from 4.9 million euros in 2006 to 2.1 million euros in 2007, chiefly due to the exchange rate profit generated from the bond loan with Guliano Pte Ltd in 2006. This bond loan has now been repaid.
The financial result also comprises 0.9 million euros dividend income from the stake in Top Form International. Tax was 13.1 million euros or 29.9% of pre-tax profit. Last year the effective tax rate without non-recurring items was 29.3%.
A total sum of 2.7 million euros were invested in 2007 versus 3.4 million euros in 2006. Much of that sum was invested in improving systems in Belgium. Shareholders' equity increased versus 2006 by the consolidated group profit (31.0 million euros) and is mainly negatively impacted by the lower price of the Top Form share.
Turnover growth of 5% is again targeted in 2008.
The Board of Directors proposes to the General Meeting of Shareholders that a dividend be paid over 2007 of 40% of the result after tax. This results in a gross dividend of 0.9 euros per share. After payment of the 25% levy, the net dividend is 0.7 euros per share.
Van de Velde NV is a leading player in the luxury and fashionable women's lingerie sector. Van de Velde is convinced of a long-term strategy based on expanding and developing brands around the Lingerie Styling concept (fit, style and fashion), especially in Europe and North America.
The financial result also comprises 0.9 million euros dividend income from the stake in Top Form International. Tax was 13.1 million euros or 29.9% of pre-tax profit. Last year the effective tax rate without non-recurring items was 29.3%.
A total sum of 2.7 million euros were invested in 2007 versus 3.4 million euros in 2006. Much of that sum was invested in improving systems in Belgium. Shareholders' equity increased versus 2006 by the consolidated group profit (31.0 million euros) and is mainly negatively impacted by the lower price of the Top Form share.
Turnover growth of 5% is again targeted in 2008.
The Board of Directors proposes to the General Meeting of Shareholders that a dividend be paid over 2007 of 40% of the result after tax. This results in a gross dividend of 0.9 euros per share. After payment of the 25% levy, the net dividend is 0.7 euros per share.
Van de Velde NV is a leading player in the luxury and fashionable women's lingerie sector. Van de Velde is convinced of a long-term strategy based on expanding and developing brands around the Lingerie Styling concept (fit, style and fashion), especially in Europe and North America.
Van de Velde NV
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