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McGregor achieves 40% sales growth in 2005

13 Mar '06

3 min read

Dutch clothing manufacturer McGregor Fashion Group NV has achieved a 40 percent rise in sales totaling €120.3 million for the financial year that ended on 31st January 2006.

The Driebergen-Rijsenburg based group stated it was pleased with organic growth in sales accounts for €13.7 million, an increase of 16 percent. The remainder of the growth in sales of approx. €20.6 million is attributable to the acquisition of Adam Menswear that has been included in the figures since 8th February of this financial year.

The net profit rose by 26 percent to €7.8 million whereas earnings per share increased by 26 percent to €1.89.

The group is satisfied with these financial results, particularly in view of the continuing difficult market conditions. Developments during the year under review reinforce the Management Board's confidence for the long term. It is clear that McGregor's strategy that is founded on strong brands and a diverse range of distribution channels is bearing fruit, even under the current difficult market conditions.

In order to maintain the current positive trend, the group plans to push development and expansion of the McGregor and Gaastra brand activities outside the Benelux. The group has, however, been insufficiently successful in achieving this objective to date.

McGregor's wholesale sales increased marginally to €40.2 million, which represents 34 percent of the group sales. The focus of McGregor Menswear will be on international growth in the years ahead, with a primary focus on expansion in France, Switzerland and Spain.

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