DOUGLAS gives good account for interim result in Q1

10 Feb '06

4 min read

Leading European retailer The DOUGLAS Group released Interim Report for first quarter of 2005/06 (10/01/05 – 12/31/05). It stated that the company saw a good start to the new 2005/06 financial year with generally satisfactory holiday season sales.

Consolidated sales were up by 9.4 percent to 904.9 million EUR during the first quarter (October 1 – December 31, 2005). Like-for-like sales were also up, 1.6 percent higher than in the previous year.

"The Christmas period sales have shown that, consumers are increasingly abandoning their conservative shopping habits of recent years and demonstrating a willingness to spend a little more on superior quality," says Dr. Henning Kreke, President and CEO of DOUGLAS HOLDING AG.

The result from ordinary business activities rose to 112.9 million EUR in the first quarter of the 2005/06 financial year following 108.5 million EUR the previous year. Earnings before interest, tax, depreciation and amortization (EBITDA) was 139.8 million EUR in the period under review following 134.1 million EUR in the previous year's period.

The Douglas perfumeries succeeded in further extending their market-leading position in Europe. The 894 perfumeries reported sales of 527.3 million EUR during the first quarter. This represents an increase of 11.9 percent.

The foreign subsidiaries once again proved the main growth engine, with sales up by 27.9 percent. Their share of total perfumery sales rose to some 45 percent after 40 percent in the previous year's period.

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