SkiStar AB, a Swedish retail company, posted 12 per cent revenue growth to SEK 1,604 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to SEK 1,431 million in same period prior year. Profit after tax jumped 16 per cent in Q2 to SEK 642 million. Operating profit were SEK 833.4 million compared to SEK 716.0 million in Q4 FY19.
SkiStar AB, a Swedish retail company, posted 12 per cent revenue growth to SEK 1,604 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to SEK 1,431 million in same period prior year. Profit after tax jumped 16 per cent in Q2 to SEK 642 million. Operating profit were SEK 833.4 million compared to SEK 716.0 million in Q4 FY19. #
“Our other business areas linked to the core operations are growing and it is particularly pleasing to see our sporting goods business showing growth of 19 per cent – and what is more, with increased profitability. In our sporting goods business, online sales are growing by 43 per cent,” Stefan Sjöstrand, CEO of SkiStar, said in a press release.
SkiStar AB, a Swedish retail company, posted 12 per cent revenue growth to SEK 1,604 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to SEK 1,431 million in same period prior year. Profit after tax jumped 16 per cent in Q2 to SEK 642 million. Operating profit were SEK 833.4 million compared to SEK 716.0 million in Q4 FY19. #
Revenue from operation of Ski Resorts amounted to SEK 1,612 million. Sporting goods business revenue increased to SEK 87 million in the quarter compared to SEK 77 million in same period prior year.
SkiStar AB, a Swedish retail company, posted 12 per cent revenue growth to SEK 1,604 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to SEK 1,431 million in same period prior year. Profit after tax jumped 16 per cent in Q2 to SEK 642 million. Operating profit were SEK 833.4 million compared to SEK 716.0 million in Q4 FY19. #
“The spread of the new Coronavirus has not passed anyone unnoticed. On March 12, we received Norwegian municipal announcements that our operations in both Hemsedal and Trysil had to be closed down, Sjöstrand said.
SkiStar AB, a Swedish retail company, posted 12 per cent revenue growth to SEK 1,604 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to SEK 1,431 million in same period prior year. Profit after tax jumped 16 per cent in Q2 to SEK 642 million. Operating profit were SEK 833.4 million compared to SEK 716.0 million in Q4 FY19. #
Nevertheless, in the shadow of uncertainty, we can look back on a strong first half of the year. It was a record early start to the season with both cold weather and snow, followed by fantastic skiing conditions during the Christmas week, after which milder weather was encountered around New Year.”
Fibre2Fashion News Desk (JL)
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