Denim fabrics maker Hellenic Fabrics H1 sales grow

16 Sep '05

3 min read

Denim fabrics supplier Hellenic Fabrics S.A. announced the half-year financial figures, at company level as well as on a consolidated basis, that are scheduled to be published according to the IFRS on September 23rd 2005, show a significant improvement in profit and cash flow.

Net sales of the parent company amounted to € 45.02 mln, presenting a decrease of 9.35 percent compared to the corresponding period of 2004. The largest part of sales is generated from indigo denim fabrics, for the production of blue jeans, 83.77 percent of which are exported, mainly to European Union countries.

Earnings before taxes, interest and depreciation (EBITDA) amounted to € 6.76 mln, increased by 25.84 percent. Earnings before taxes increased to € 3.57 mln, showing an increase of 53.62 percent. Respectively, net profit after taxes reached the amount of € 2.75 mln and presented an increase of 56.84 percent.

During the same period, on a group basis, consolidated turnover amounted to € 47.12 mln, decreased by 13.18 percent compared to the corresponding period of 2004. This comes as a result from the company's policy to retain bigger than last year quantities of raw cotton. Earnings before taxes, interest and depreciation (EBITDA) amounted to € 9.06 mln, increased by 30.97 percent. Consolidated earnings before taxes reached € 4.79 mln, improved by 78.08 percent. Net profit after taxes and minority rights amounted to € 3.21 mln, showing an increase of 65.10 percent.

The ratio "Earnings per share after taxes" increased to € 0.23, an improvement of 50.33 percent. The ratio "P/E after taxes" reached 9.04, while the price to book value ratio has amounted to 0.32.

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