Brantano Group 2005 profit doubles to €7.1mn, turnover drops

24 Feb '06

4 min read

Footwear company Brantano Group has achieved an operating profit of €18.8 million in 2005, which is an improvement of €0.8 million on the predicted €18 million. The result on continued activities after tax is up by 10 percent to €10.5 million. Compared with 2004 the net result increased by 109 percent from €3.2 million to €7.1 million.

During the 2005 financial year, the Brantano Group realised a turnover of €304.1 million, which represents a decrease of 5.7 percent compared with the €322.6 million achieved in 2004. Compared with the 2004 turnover excluding the Netherlands and Denmark, (€297.7) turnover rose by 2.1 percent in 2005. Without the impact of the exchange rates turnover was up by 2.6 percent.

The gross margin in the 2005 financial year was equal to €152.9 million and represents 50.3 percent of the total turnover. In 2004 the gross margin was equal to €158.3 million or 49.1 percent of turnover. The significant improvement in the percentage gross margin is the result of the sustained focus on this margin during the purchasing process and stock management.

The operating result was €18.8 million over the 12 months of 2005. Compared with the same period in 2004 (€19.9 million) the figure was down by 5.2 percent. Expressed as a percentage of turnover the operating result was 6.2 percent, which is the same as the previous year.

In 2004, the operating result was influenced by €2.7 million by other operating income from real estate management.

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