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Macintosh reports €817.6m turnover in 2005

17
Mar '06
Dutch retail group Macintosh Retail Group's turnover increased by 1.5 percent to €817.6 million in 2005 thanks to an exceptionally good second half.

The operating result rose by 53.2 percent from €30.0 million to € 45.9 million, due to a higher perceptual gross margin and lower costs as a percentage of turnover at the continuing activities as well as the effects of the sale of clothing store chain Superconfex.

The net profit for the year was 67.6 percent higher at €32.9 million, compared with €19.6 million for 2004. Earnings per share rose from €2.77 to €4.53.

Turnover on continuing activities rose with 3.3 percent to €790.2 million and the operating result increased with 21.8 percent to €40.6 million.

The return on net capital employed (ROCE) rose to 25.8 percent from 18.3 percent for the previous year. It is proposed to distribute a cash dividend to shareholders of €1.80 per share for 2005 (2004: €1.05), an increase of 71.4 percent.

Barring unforeseen circumstances, Macintosh Retail Group expects operating result on continuing activities, including the effect from the Scapino acquisition, to rise substantially in 2006.

Although the acquisition of Scapino will result in an addition to net profit for 2006 of Macintosh Retail Group, given the uncertainties surrounding market developments and the effect of non-recurring income in 2005 (net total: €4.9 million), we consider it premature to make any forecast about the netprofit for 2006.


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