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Operating profit rises at fashion company Lindex

Sep '05
Fashion firm Lindex released year-end report September 1, 2004 to August 31, 2005.

September-August 2004/2005
- Sales for the financial year fell by 2.8 (+0.8) per cent to SEK 5,202M (5,352). Same stores sales, excluding the currency effect, fell by 1.4 (+3.2) per cent compared with the previous year.

- Operating profit increased to SEK 391M (28) and profit after financial items rose to SEK 391M (28). The EBITA result for the Lindex Group amounted to SEK 444 (56)M.

- The operating margin increased to 7.5 (0.5) per cent and the gross margin amounted to 57.5 (53.2) per cent. The EBITA margin for the Lindex Group amounted to 8.5 (1.0) per cent.

- Operating profit before financial items, taxes and the amortisation of brand names and goodwill, EBITA, increased significantly in the Nordic operations (excluding Twilfit) and amounted to SEK 514M (279). This resulted in an EBITA margin amounting to 11.1 (6.0) per cent.

- Profit after tax increased strongly and amounted to SEK 309M (-76), equivalent to SEK 22.50 (-5.50) per share.

- The cash flow from current operations amounted to SEK 527M (276) for the year.

- Lindex plans an annual expansion rate for new stores of 5-10 per cent over the next few years. Twenty contracts are signed regarding opening of new stores during the financial year 2005/2006.

- The Twilfit operation was divested, which affected profit after financial items by SEK 25M in the form of a one-off write-down of goodwill.

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