Home / Knowledge / News / Textiles / Artman SA registers 400% increase in net profits
Artman SA registers 400% increase in net profits
22
Sep '08
After two quarters of 2008, Artman SA recorded a net profit increase to the amount of EUR 2.5 million by increasing it by 400 percent, compared to the first half of 2007 (EUR 0.5 million). Net income calculated cumulatively reached EUR 133.3 million, increasing by 21 percent.

Compared to the first six months of 2007 and operating income - rose to EUR 4.3 million to 2.3 million PLN. The management of the company reiterated its forecast of aiming to develop in 2008, EUR 360 million of the proceeds of the sale and EUR 16 million net profit.

After two quarters of 2008, Artman SA recorded a net profit increase to the amount of EUR 2.5 million by increasing it by 400 percent, compared to the first half of 2007 (EUR 0.5 million).

Net income calculated cumulatively reached EUR 133.3 million, increasing by 21 percent, compared to the first six months of 2007 and operating income - rose to EUR 4.3 million to 2.3 million PLN.

The management of the company reiterated its forecast of aiming to develop in 2008, EUR 360 million of the proceeds of the sale and EUR 16 million net profit.

In the second quarter we completed work on the concept of a new brand MOHITO - it debuted on the market in August. The first sitting of the brand was created in the gallery Podlaskiej in Bialystok, and the end of 2008 we plan to run about 20 corporate salons - said Grzegorz Koterwa, Member of the Board Artman SA

Clothing and accessories Mohito are aimed at women aged between 25 and 35 years of age. Until the end of 2010 Mohito is to have 80 stores mainly in Poland, but also in other countries of Central Europe - Eastern Europe.

The offer will be similar to international brands such as Zara and Promod, and salons located in prestigious locations of large cities.

We expect this year to around 10 million of revenue in 2008 with brand new shops, while in the costs of opening and market new brands invest in 2008 approximately 9 million, of which about 3 million, charge a direct result of financial 2008. Profits from the new network will already be felt in the first half of next year - Grzegorz Koterwa adds.

After the half-year sales network covering 212 House parlor, with a total area of 41 158 m2 in the halls, including 123 in Poland and 89 showrooms abroad: in Russia, Ukraine, Belarus, Lithuania, Latvia, Estonia, Slovakia, the Czech Republic, Germany and Romania.

In the second quarter, the company has launched 10 parlor with a total area of almost 2 500 m2, including 4 in Poland and 6 abroad.

The report for second quarter 2008 is the first financial report prepared by the company on the basis of International Accounting Standards.

According to the agreement signed in June an investment 100 percent, buy shares in September LPP SA for a total price of EUR 394.8 million.

Artm call for shares to be announced September 15, at a price of EUR 92.65 per share. Existing shareholders of the company Artman SA acquiring up to 40 thousand. LPP shares newly issued at a price 2 350 PLN per share.

Artman SA


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search