STOCKHOLM, Sweden, April 05, 2005 (PRIMEZONE) -- Lindex: Strengthened margins and lower costs.
First six months of 2004/2005 (1 September 2004--28 February 2005)
- Sales fell by 4.8 (+2.1) per cent to SEK 2,621M (2,753). The Lindex Group's same-stores sales, excluding the currency effect, fell by 3.2 (+5.9) per cent.
- Costs continued to decrease and operating profit increased to SEK 176M (31). Profit after financial items increased to SEK 176M (33).
- The operating margin rose to 6.7 (1.1) per cent and the gross margin amounted to 56.9 (53.9) per cent.
- Operating profit before financial items, taxes and the amortisation of brand names and goodwill, EBITA, doubled for the first half of the year in the Nordic operations (excluding Twilfit) and amounted to SEK 227M (108). This resulted in an EBITA margin amounting to 9.8 (4.5) per cent.
- Profit after tax amounted to SEK 115M (9), equivalent to SEK 8.30 (0.60) per share.
- The cash flow from the current operations amounted to SEK 127M (77).
Second quarter of 2004/2005 (1 December 2004--28 February 2005)
- Sales fell by 5.6 (+2.8) per cent to SEK 1,291M (1,368). The Lindex Group's same-stores sales, excluding the currency effect, fell by 4.0 (+6.7) per cent.
- Operating profit rose to SEK 60M (-56). Profit after financial items increased to SEK 61M (-55).
- The operating margin increased to 4.6 (-4.1) per cent and the gross margin to 54.1 (48.3) per cent.
- Profit after tax amounted to SEK 36M (-48), equivalent to SEK 2.60 (-3.50) per share.
After the reporting period -Lindex has signed a contract to open a new store in Germany in September.
The Lindex Group consists of two retail chains: Lindex, which has 309 stores in the Nordic market and 23 stores in Germany, and Twilfit, which has 56 stores in Sweden. The Group's business areas are Lingerie, Ladies' Wear and Children's Clothing.
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