Marimekko revises earlier estimate for operating profit for 2010
25 Oct '10
2 min read
In its interim report for the January-June period of 2010, published on 12 August 2010, Marimekko Corporation estimated that the Group's net sales and operating profit for the full year 2010 would be approximately at the same level as in 2009.
Due to higher-than-expected average sales margin and better-than-predicted trend in expenses, the company revises its earlier estimate for operating profit for 2010. According to a new estimate, the Group's operating profit for the full year 2010 is expected to be better than in 2009. The company also expects operating profit to be slightly better than operating profit without non-recurring items in 2009. Operating profit for 2009 included a non-recurring expense of EUR 0.5 million related to personnel reductions.
The net sales estimate given in the interim report on 12 August 2010 remains unchanged. Net sales for 2010 are thus expected to be approximately at the same level as in 2009.
Due to the seasonal nature of Marimekko's business, the major portion of the company's net sales and earnings are traditionally generated during the last two quarters of the year. In the last quarter, a significant share of sales is accounted for by retail sales.
The company's interim report for the January-September period of 2010 will be published on Thursday 4 November 2010.
Marimekko, established in 1951, is a leading Finnish textile and clothing design company renowned for its original prints and colours. The company designs and manufactures high-quality clothing, interior decoration textiles, bags, and other accessories. Marimekko products are sold in about 40 countries.
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