Brantano Group 2005 profit doubles to €7.1mn, turnover drops
24 Feb '06
4 min read
The operating costs rose in both Belgium and the United Kingdom in 2005. The group experienced a rise in utility charges in both countries. There was a major rise in store rents and rental charges in the United Kingdom due to a large number of five-year lease reviews.
In the total group revenue of €304.1 million, Belgium (including Luxembourg) accounts for €139.2 million and the United Kingdom (including the Middle East) accounts for €165.0 million. The turnover in Belgium (including Luxembourg) thus accounts for 45.8 percent of the group total and the turnover for the United Kingdom (including the Middle East) 54.2 percent.
Like-for-Like turnover in Belgium (including Luxembourg) rose by 3.5 percent in 2005 and the total turnover increased by 4.7 percent in comparison with the previous year. A total of 14 stores were converted to the updated store concept in 2005.
Like-for-Like turnover in the United Kingdom fell by 2.1 percent and total turnover increased by 0.8 percent compared with 2004. 19 stores in total were also partly refurbished in the context of the UK store updating programme.
“An excellent rise in turnover of 3.5 percent LFL and 4.7 percent across all stores was recorded in Belgium. This is due to the good collection and to the success of the 7 percent discount offered on the next purchase. In the United Kingdom the fall in consumer confidence led to a drop in the LFL turnover of 2.1 percent and the total turnover remainedunchanged compared with 2004,” states Joris Brantegem, Chairman of the Board of Directors.
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