STOCKHOLM, Sweden, March 24, 2004 (PRIMEZONE) -- Lindex:
The first six months 2003/2004
-- Sales increased by 2.1 per cent (5.5) to SEK 2,753M (2,695).
The Lindex Group's same-stores sales, excluding the currency
effect, rose by 5.9 per cent.
-- Profit after tax amounted to SEK 9M (77), equivalent to SEK
0.60 (5.60) per share.
-- Operating profit fell to SEK 31M (101). Profit after financial
items fell to SEK 33M (100).
-- Operating margin decreased to 1.1 per cent (3.7) and the gross
margin amounted to 53.9 per cent (55.8).
-- Cash flow from current operations amounted to SEK 77M (344).
Second quarter 2003/2004
-- Sales increased by 2.8 per cent (5.0) to SEK 1,368M (1,330).
The Lindex Group's same-stores sales, excluding the currency
effect, rose by 6.7 per cent.
-- The result after tax amounted to SEK -48M (17), equivalent to
SEK -- 3.50 (1.20) per share.
-- The result after financial items fell to SEK -55M (20).
-- The operating result fell to SEK -56M (19). The operating margin
fell to -4.1 (1.4) per cent and the gross margin to 48.3 (51.9)
per cent.
Subsequent events:
-- Lindex has transferred the lease contracts for three stores in
Germany to the Dutch retail company, C&A.
-- The Board of Directors has, in consultation with Jorgen
Johansson, decided that he will step down as President from 1
April 2004.
-- The Board has appointed Conny Karlsson, who is a Board Member
of AB Lindex, as Acting President of AB Lindex.
The Lindex Group comprises two retail chains: Lindex, which has 314 stores in the Nordic market and 30 stores in Germany, and Twilfit, which has 59 stores in Sweden. The Group's business areas are Lingerie, Ladies' Wear and Children's Clothing.
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