• Company returns to profit in Q3 
  • Sales rose 5.6% to SEK1.21bn
  • Gross margin improved by 2.1 percentage points

Nordic fashion chain KappAhl has today (28 June) returned to profit during its third-quarter, helped by higher sales in all business areas.

Net profit after tax reached SEK32m (US$4.8m) for the three months to May, compared to a loss of SEK10m in the same period last year.

Net sales rose 5.6% to SEK1.21bn from SEK1.15bn last year, while comparable store sales were up 6.5%. Gross margin improved by 2.1 percentage points.

President and CEO Johan Åberg said: "I am very pleased that KappAhl is reporting an improved result for the fourth quarter in a row. We continue to show growth with improved margins and reduced net debt."

The company, which operated 392 stores at the end of the period, opened two and closed one during the quarter.

Show the press release

 

KappAhl Q3: Improved result and continued growth

STOCKHOLM--(BUSINESS WIRE)--Regulatory News:

“I am very pleased that KappAhl is reporting an improved result for the fourth quarter in a row. We continue to show growth with improved margins and reduced net debt…”

             

 

   

Third quarter (March–May)

   

Nine months (Sept-May)

     

2012/2013

 

2011/2012

 

Change

   

2012/2013

 

2011/2012

 

Change

Net sales, SEK million

   

1 210

 

1 146

 

64

   

3 603

 

3 458

 

145

Operating profit excluding non-recurring items, SEK million

   

76

 

46

 

30

   

145

 

7

 

138

Operating profit, SEK million

   

64

 

29

 

35

   

209

 

-93

 

302

Gross profit margin, %

   

61,2

 

59,1

 

2,1

   

60,0

 

56,5

 

3,5

Operating margin excluding non-recurring items, %

   

6,3

 

4,0

 

2,3

   

4,0

 

0,2

 

3,8

Profit after tax, SEK million

   

32

 

-10

 

42

   

83

 

-184

 

267

Earnings per share, SEK (Note 1)

   

0,43

 

-1,46

 

1,89

   

1,25

 

-6,40

 

7,65

Cash flow from operating activities, SEK million

   

191

 

117

 

74

   

215

 

180

 

35

  • Net sales increased by 5.6 per cent for the quarter. Of this, the increase in comparable stores was 6.5 per cent.
  • The gross margin improved by 2.1 percentage points.
  • The equity/assets ratio increased to 47.6 per cent.
  • Improved operating profit for the fourth quarter in a row.

"I am very pleased that KappAhl is reporting an improved result for the fourth quarter in a row. We continue to show growth with improved margins and reduced net debt…”

Johan Åberg, President and CEO. Read the CEO statement in the full report.

 

Original source: http://www.businesswire.com/news/home/20130627006628/en/KappAhl-Q3-Improved-result-continued-growth