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Stable development at Nordic fashion chain KappAhl

30
Jun '08
KappAhl's net sales for the period (excluding VAT) amounted to MSEK 1,140 (1,106), an increase of 3.1 percent. Operating profit amounted to MSEK 145 (132). Operating profit in the previous year was affected positively by non-recurring items in an amount of MSEK 3. Excluding non-recurring items, profit increased by 12.4 percent.

The gross margin amounted to 63.8 percent (62.3) and the operating margin was 12.7 percent (11.9). Profit after taxes amounted to MSEK 112 (79), which is equivalent to SEK 1.49 (1.05) per share. Profit has been positively affected in an amount of MSEK 23 due to the termination of a financial lease for real estate. Cash flow from operating activities totalled MSEK 221 (136). First nine months (September 2007 - May 2008)

KappAhl's net sales for the period amounted to MSEK 3,519 (3,383), an increase of 4.0 percent.
Operating profit amounted to MSEK 469 (435). Operating profit in the previous year was affected positively by non-recurring items in an amount of MSEK 16. Excluding non-recurring items, profit increased by 11.9 percent. The gross margin amounted to 62.5 percent (60.8) and the operating margin was 13.3 percent (12.9).

Profit after taxes amounted to MSEK 324 (540), which is equivalent to SEK 4.32 (7.20) per share. Profit after taxes in the previous year was positively affected by tax revenue of MSEK 270. Cash flow from operating activities totalled MSEK 600 (449).

CEO's comments : During the spring, the fashion market was slightly weaker than in previous quarters. Our ability to demonstrate continued steady development in such a market is highly encouraging and indicates that KappAhl has a strong offer that appeals to our customers. However, global uncertainty may lead to caution on the part of our customers.

This makes it difficult to assess the near future, at the same time as these conditions could also bring new business opportunities for operations of our type. We are also pleased to be able to state that growth from new stores will increase, as we now have contracts for 56 new stores.

KappAhl is a leading fashion chain with around 4,000 employees and nearly 300 stores in Sweden, Norway, Finland and Poland. KappAhl sells value-for-money fashion to a number of target groups - men, women and children - but focuses particularly on women between 30 and 50. All clothes are designed by in-house designers.

KappAhl


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