Canada : Groupe Bikini Village enjoys an improved financial situation

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Groupe Bikini Village enjoys an improved financial situation

26
Apr '08

Groupe Bikini Village inc released its fourth quarter and year-end 2007 results, illustrating through growth in earnings, sales, and gross margins that its renovation and expansion strategy is leading the Company to improved financial and operational performance.

“We are delighted to report results illustrating that, despite the relative youth of many of our stores which have either been opened or renovated in the last year, our strategy is well-founded, our execution is hitting the mark, and we are delivering on our objective to enhance shareholder value,” said Yves Simard, President and CEO of Groupe Bikini Village inc.

In the fourth quarter of fiscal 2007, which ended on February 2, 2008, Groupe Bikini Village inc.'s EBITDA1 was $1.8 million, or 14.2% of sales, compared to $983,000, or 8.0% of sales, for the fourth quarter of 2006. EBITDA1 for the year ended February 2, 2008 totalled $2.4 million, or 6.1% of sales, compared to $2.3 million, or 5.8% of sales, in the corresponding period last year.

The Company's sales in the fourth quarter of fiscal 2007 grew by 9.3% when the same set of weeks in 2007 and 2006 are compared (a comparison of the two fourth quarters year-over-year reflects an increase of 4.8%, but does not account for the fact that the fourth quarter of fiscal 2006 encompassed 14 weeks, versus 13 weeks in 2007). Overall in 2007, the Company's sales increased slightly, by 0.3%, when the 52 weeks of fiscal 2007 are compared with the same 52 weeks in fiscal 2006.

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