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Profit shortfall for  BJÖRN BORG

Wednesday, 22 August 2012
Clothing Company Björn Borg reported a profit after tax of SEK 1 million for the second quarter of 2012, in the past similar period it was Skr6.5million.

Earning summary for BJÖRN BORG

APRIL 1 – JUNE 30, 2012
•    The Group’s net sales increased by 3 percent to SEK 105.5 million (101.9). Excluding currency effects, sales were unchanged.
•    Deferred deliveries from suppliers of about SEK 13 million compared with the same period in 2011 were recognized as revenue during the third quarter, impacting profit by about SEK 6 million.
•    The gross profit margin was 52.1 percent (53.3).
•    Operating profit amounted to SEK 4.8 million (8.2).
•    Profit after tax amounted to SEK 1.0 million (6.5).
•    Earnings per share amounted to SEK 0.10 (0.33).
Fully diluted earnings per share amounted to SEK 0.10 (0.33).
•    Brand sales* (excluding VAT) decreased by 8 percent to SEK 288 million (315). The decrease was the same excluding currency effects.

JANUARY 1 – JUNE 30, 2012
•    The Group’s net sales decreased by 3 percent to SEK 246.0 million (253.3). Excluding currency effects, sales were down 5 percent.
•    The gross profit margin was 49.8 percent (51.6).
•    Operating profit amounted to SEK 19.5 million (36.6).
•    Profit after tax amounted to SEK 10.3 million (27.1).
•    Earnings per share amounted to SEK 0.55 (1.22).
Fully diluted earnings per share amounted to SEK 0.55 (1.21).
•    Brand sales* (excluding VAT) decreased by 1 percent to SEK 736 million (746). The decrease was the same excluding currency effects.
•    A bond loan with a nominal value of SEK 200 million was issued in March. Proceeds of about SEK 197 million after transaction expenses were received in April.
CEO Arthur Engel said in a comments that “We are pleased to report stable sales in a continued weak market during the second quarter. The investments we have made in our future growth in recent years are beginning to contribute more to revenues, although earnings are still being adversely affected by the costs."

He added that in late August the company will be opening its first sales location in China and that their operations in England are developing well.

"We remain confident about our development during the rest of the year,” said CEO Arthur Engel.
Scancomark.se Team

















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