Home / Knowledge / News / Textiles / Textiles Segment perform well at Arafa Holding
Textiles Segment perform well at Arafa Holding
12
May '11
AI Arafa for Investments & Consultancies (Arafa Holding - AIVC) the leading textiles focused investment company has announced its fiscal yearend consolidated results as at the 31st of January, 2011.

Consolidated Net Operating Profit for FY2010 registered USD 16.1 million compared to USD 375K for FY2009; reflecting a remarkable improvement that evidence the thesis behind the retail segment restructuring that took place during 2010 backed by the global improvement in economic conditions in general and the USA and the luxury business in specific.

Consolidated performance highlights:

A FY2010 results reflect Consolidated Revenues of USD 283.3 million as Q4 2010 added almost USD 82.3 million to the groups consolidated lop line. FY2010 consolidated revenues represent a y-o-y decrease of only 14.8% compared to the consolidated revenues of FY2009 despite the divesture of both SRG & Melka during 2010.

A Gross Profit for the current period amounted to USD 98. 2 million reflecting a gross profit margin of 34 7% compared to USD 129.9 million for last year reflecting a margin of 39.1 %. Such decrease is particularly attributed to the sale of SRG, being a retail arm which is associated with a higher first margin.

FY2010 EBITDA was doubled to record a figure of USD 24.5 million with a margin of 8.6%; compared to FY2009 figure of USD 12.3 million and a margin of 3.7%.

Net Operating Profit for 2010 recorded USD 16.1 million with a margin of 5.7% compared to only USD 375K with a 0.1% margin for the same period of last year. This reflects the company's fruitful decision to divest part of its retail operations which decreased the SG&A cost by more than 36.2% with the bulk being fixed overheads related to shops rent.

A The Consolidated Net Profit after Tax for the period booked an amount of USD 171 million with a margin of 6.0% compared to USD 10.2 million for last year with a margin of 3.1%.

A Net Profit after Minority Interest for the period reached USD 23.1 million whlich is more than the double of last year figure of USD U.S million.

Retail Segment

Consolidated Revenues amounted to USD 195.3 million representing a decline of 22.5% compared to last year's figure of USD 251.9 million as a direct result of the sale of SRG & Melka.

Gross Profit amounted to USD 74.2 million reflecting a gross profit margin of 38.0% compared to an amount of USD 111.8 million with a margin of 44.4% for the same period of last year.

Net Operating loss for FY2010 reached USD 829K compared to net losses of USD 14.5 million for last year.

Apparel & Tailoring ("A& T")

Consolidated Revenues reached USD 113.7 million to reflect a y-o-y increase of 4.6% compared to last year figure of USD 108.7 million.

Gross profit of USD 20.1 million was registered for the reporting period with a margin of 17.7% compared to an amount of USD 14.2 million with a margin of 13.1% for the same period last year


Must ReadView All

India mulls new schemes for jobs, textile clusters

Apparel/Garments | On 25th Apr 2018

India mulls new schemes for jobs, textile clusters

India is mulling over alternative schemes for jobs and manufacturing...

Kraig gets approval for Vietnamese subsidiary firm

Textiles | On 25th Apr 2018

Kraig gets approval for Vietnamese subsidiary firm

Kraig Biocraft Laboratories, Inc., the leading developer of spider...

Courtesy: ITMA Asia

Textiles | On 25th Apr 2018

ITMA Asia + CITME 2018 attract global textile companies

The sixth edition of ITMA ASIA + CITME 2018 has received strong...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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