Lindex operating profit grows to SEK 101M due to cost reduction

22 Jun '05

2 min read

Sweden based fashion chain Lindex announced the interim report for the third quarter 1 March-31 May 2005.

Significantly improved profit due to reduced costs and strengthened margins

1 September-31 May 2004/2005
Sales fell by 4.3 (+2.2) per cent to SEK 3,861M (4,034). The Lindex Group's same-stores sales, excluding the currency effect, fell by 2.7 per cent.

Costs continued to reduce and operating profit increased to SEK 277M (33). Profit after financial items rose to SEK 277M (33).

The operating margin rose to 7.2 (0.8) per cent and the gross margin amounted to 57.8 (53.9) per cent.

Operating profit before financial items, taxes and amortisation of brand names and goodwill, EBITA, increased significantly in the Nordic operations (excluding Twilfit) and amounted to SEK 347M (151). This resulted in an EBITA margin amounting to 10.1 (4.3) per cent.

Profit after tax amounted to SEK 188M (0), equivalent to SEK 13.70 (0.00) per share. The cash flow from the current operations amounted to SEK 264M (179).

1 March-31 May 2004/2005
Sales fell by 3.3 (+2.4) per cent to SEK 1,240M (1,282). The Lindex Group's same stores sales fell by 1.0 per cent.

Operating profit rose to SEK 101M (1) and the costs continued to decrease. Profit after financial items increased to SEK 101M (1).

The operating margin rose to 8.1 (0.1) per cent and the gross margin amounted to 59.7 (53.8) per cent.

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