Home / Knowledge / News / Textiles / Al Arafa holdings reports positive growth in Q3

Al Arafa holdings reports positive growth in Q3

21
Dec '09
Q3 2009 unfolds a gradual improvement across all three segments of the group. Demand is picking up with Q3 2009 revenues for the Retail; Apparel & Textiles segments up by 18%, 8% & 26% respectively compared to 2Q09.

The appreciation of the GBP against the US$ by approximately 3.4% when compared to Q2 2009 2ill positively impact our consolidated top line.

Retail segment results are back in the black in terms of operating profits with for 3Q09 operating profit at US$ 240K vs. an operating loss of US$ 4.1 million for the 2Q09 reflecting the positive impact of restructure of the Baird Group.

Financial Performance Year to Date

•9 months revenues of US$ 255 million reflect a decrease of 22% over 9 months ended December 20081. The results are negatively impacted by both incomparability of periods due to the seasonality of the retail segment as well as currency devaluation against the US$ in key operations, on a period for period basis, the GBP has been devalued by approximately 17% against the US$. It is noteworthy to mention that the UK retail operations account for approximately 65% of Al Arafa's consolidated revenues.
•EBITDA for 9 months ended October 2009 reached US$ 20.6 million, compared to US$ 32.7 million for the comparable period. The figures reflect a 2% decrease in EBITDA margin to be 8% versus 10% for the comparable period.
•Net profit for the period was US$ 6.7 million compared to US$ 24.6 million for the comparable period.

Financial Performance for the 3 months ending October 2009

•Revenues for the 3 months ended October were US$89.5 million increasing by 12% compared to the 3 months ended July 2009,
•Retail, Apparel & Textiles revenues increased by 18%, 8% & 26% respectively, when compared to 2Q2009.
•EBITDA for 3Q09 was US$ 7 million, a 38% increase over the 2Q09 reflecting a margin of 8% compared to 6% for the 2Q09.
•Net profit was US$ 1.2 million compared to 2.6 million in 2Q09, noting that 2Q2009 profitability was skewed by an exception FX income

UK retail market

Retail market remains dampened by the overhanging state of the UK economy at large. Despite low interest rates & inflation that is boosting disposable income; consumers continue to be cautious in terms of spending.

Nonetheless, despite an estimated 0.9% contraction in the menswear market Q-on-Q consumer confidence is slowly returning to the high street in the run up to Christmas, with 4 Q sales expected to pick up reflecting both the boost to consumer confidence & seasonality effect.

Local retail market

Despite the lack of relatively solid data, anecdotal evidence suggests that, the Egyptian retail market remains fairly robust when compared to other markets.

US Exports

Total imports of apparel by the USA declined by 7.5% as of September 2009, while Egypt's exports of apparel to the USA have increased by 1.1% over the same period reflecting onEgypt's growing position as a garment exporter to the USA.


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

Pic: Sergejsbelovs | Dreamstime.com

Apparel/Garments | On 4th Dec 2021

USTR, AAFA to promote greater near-shoring of apparel production

The office of the United States Trade Representative (USTR) has...

Pic: Yilmaz Savas Kandag | Dreamstime.com

Textiles | On 4th Dec 2021

Top priority is to eliminate CAD & foreign debt: Turkey’s new FM

Turkey wants to boost investments, production and exports, and its...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Ghatit Laheru,

Ghatit Laheru

When the 2001 tremblor wrecked the Kachchh region of Gujarat throwing many ...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search