SWEDEN: Clothing Firm Lindex Posts Q2 Profits Surge
Leading Swedish clothing retailer Lindex AB on Wednesday reported a 132 per cent surge in its net profit for the second quarter as it reaped the benefits of cost-cutting and strong sales.
The company said in a statement net income for the period jumped to SEK44 million from SEK19 million from the year-ago period, while sales climbed 6.7 per cent to SEK1.28 billion from SEK1.20 billion.
Lindex added its pre-tax profit soared 134 per cent to SEK75 million, from SEK32 million, but that figure did not quite meet analysts' forecasts of SEK82 million.
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