Beter Bed: profit of € 10.9 million in 1st half 2008 in difficult market

         3.6% growth in revenue in first six months of 2008

         Continued expansion of new stores

         Lower net profit in first half 2008 due to decreased consumer confidence

         Outlook: difficult market conditions will lead to a lower net profit in the second half of 2008 compared to the second half of 2007

 

 

Chief Executive Officer Frans Geelen: 'The credit crisis has also impacted consumer confidence and this has led to stagnating spending on bedroom furnishings. We have nonetheless been able to achieve growth in revenue in comparison to the record year of 2007. Our stringent cost policy, which continues to gain importance amidst current market conditions, is reflected in a 2.5% decrease in costs per store. We continue to invest in new stores and in modernising existing ones. We have strong retail formulas and have increased our market shares, also if the market is not conducive to this.'

 

Beter Bed operates in the European bedroom furnishings market. Its activities include retail trade through approximately 1,000 stores that operate via the chains Beter Bed (active in the Netherlands), Matratzen Concord (active in Germany, the Netherlands, Austria, Switzerland and Belgium), El Gigante del Colchón (active in Spain), BeddenReus, Dormaël and Slaapgenoten (all three active in the Netherlands) and MAV (active in Germany). Beter Bed Holding is also active in the field of developing and wholesaling branded products in the bedroom furnishings sector in the Netherlands, Belgium, Germany and in Spain via its subsidiary DBC International. Beter Bed Holding achieved net revenue of € 351.2 million in 2007. The company has been listed on Euronext Amsterdam since December 1996. The Beter Bed Holding share is included in the Amsterdam Small cap Index.

 

 

 

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