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Leading footwear firm records 72.1% growth in 2007

Mar '08
Bata India Ltd has made a profit before tax of Rs. 551.5 million in the year 2007. Profits of 2006 included Rs.171.3 million one time exceptional items. Without considering the exceptional item of 2006, the increase in profit before tax for the year 2007 is 72.1% over the previous year. The increase is attributed to stricter cost control, improved product mix, new shoe designs, renovation of existing stores, consolidation and specialization of factories and continued transformation of the wholesale business.

The Board of Directors have recommended a Dividend @ 20%, inclusive of 5% additional dividend to celebrate 75 years of Bata in India, subject to the approval of shareholders.

Announcing the results, Mr. Marcelo Villagran, Managing Director, Bata India said, “In this 75th year of the history of the Company, Bata India Limited has delivered the best results ever with a PBT of Rs. 551.5 million and the Company has now become profitable on a sustained basis. This great achievement is the result of a series of sustained efforts, all aimed at improving the Company's fortune. We continue growing our sales, improving our margins and monitoring our expenses.

As the Indian consumer evolves and the shoe industry continues to grow, we believe, we will continue to maintain our market leadership through providing the customer with the best quality and value of our products and the most satisfying customer experience.”

Bata India Ltd. is on an aggressive growth path and has implemented forward looking initiatives like investments in large format stores, trendy shoe collections and customer service programs. These initiatives have resulted in a healthy increase of 12.6 % in turnover over previous year. Owing to the changing dynamics of the retail scenario in India and in order to stay ahead of competition, Bata has adopted an ambitious strategy of opening 70 stores every year for the next few years. The company has also introduced exclusive Hush Puppies Stores for the first time in India.

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