STOCKHOLM, Sweden, Oct. 17, 2002 (PRIMEZONE) -- Lindex:
- Profit after financial items amounted to SEK 276M (100) and operating profit increased to SEK 240M (86). Historically, the Lindex chain reports the highest profit level in the Nordic countries.
- During the financial year, sales increased by 6.9 per cent (14.4) to SEK 5,031M (4,707).
- The gross margin was significantly strengthened during the financial year and increased to 55.2 per cent (49.7).
- Significantly improved cash flow from current operations of SEK 669M (117).
- The cost savings from the action programme amounts to more than SEK 100M.
- An additional six stores in Germany achieved break-even in the fourth quarter. The deficit continues to reduce.
- The Board of Directors proposes that the Annual General Meeting sets a dividend of SEK 6,00 per share for the 2001/2002 financial year.
The Lindex Group consists of two retail chains: Lindex with 316 stores in the Nordic market and 33 stores in Germany, and Twilfit with 58 stores in Sweden of which 10 are operated as franchise stores. The Group's product areas are Ladies' Wear, Lingerie and Children's Clothing.
For further information, please contact:
Jorgen Johansson, President and CEO Tel: +46 322-777 02
Mobile: +46 70-594 21 22
Peter Andersson, Chief Financial Tel: +46 322-778 50
Officer
Mobile: +46 70-584 44 37
Ulrika Danielson, Manager of Tel: +46 322-744 00
Corporate Communications
Mobile: +46 70-950 16 13
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/10/17/20021017BIT01090/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/17/20021017BIT01090/wkr0002.pdf