DENMARK: Ecco books record full-year results
- FY pre-tax profit grows 8% EUR165.4m
- Net revenue up 4.4% to EUR1.13m
- Expects to increase profit and revenues this year
Danish footwear giant Ecco has recorded its "best ever results" in 2013, with an 8% increase in full-year profit, bolstered by strong sales in China and Russia.
Pre-tax profit reached EUR165.4m (US$230.6m), up 8% on the year before, while net revenue increased 4.4% to EUR1.13m year-on-year.
Sales of Ecco produced leathers to manufacturers of other premium and luxury brands jumped 58% to EUR82m. Sales of leather goods and shoe accessories continued their positive trend, growing by 12.6% to EUR38m.
"It's a very pleasing performance," said CEO Dieter Kasprzak. "We have been successful in reorganising our production footprint, whilst growing our business and profits."
While CFO Steen Borgholm added: "Controlled growth has been the key to Ecco's success in 2013 and we will continue this strategy in 2014. We expect 2014 to show increased revenue and profitability."
Ecco owns and manages every step in the shoe making process and sells its products in almost 15,000 branded sales locations worldwide.
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