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Lingerie player Van de Velde's turnover rise in H1

25
Jul '08
Van de Velde announced the results for first six months of 2008. Consolidated turnover drawn up in accordance with IFRS rose in the first six months of 2008 to 67.6 million euros (excluding Eurocorset, which was acquired on 20 June).

Second quarter turnover was below expectations. As a result, the first six-months' turnover growth expected on 30 April could not be achieved. This is the consequence of the general and persistent lower activity in retail.

Van de Velde expects no turnover growth in 2008, excluding the acquisition of Eurocorset (Andres Sardà).

This does not change the fact that the company will continue to follow the strategic course as set, fully and as dynamically as planned.

The financial figures will be announced prior to the opening of the stock exchange on the morning of Friday 29 August. A press and analysts meeting will follow at 10 am.

Van de Velde NV is a leading player in the luxury and fashionable women's lingerie sector. Van de Velde is convinced of a long-term strategy based on expanding and developing brands around the Lingerie Styling concept (fit, style and fashion). Van de Velde focuses its efforts on Europe and North America.

Van de Velde


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