• H1 profit plummeted 63% to EUR1m
  • Revenues declined 5.3% to EUR115.2m
  • Clothing sales dropped "sharply"

German fashion group Ahlers has seen its first-half net profit plummet 63% on lower sales revenues, expenses related to its retail division, and the start-up of its e-commerce business.

Net income after taxes stood at EUR1m (US$1.3m) for the six months to 31 May, compared to EUR2.7m the same period last year.

Total revenues declined 5.3% to EUR115.2m due to the discontinuation of Gin Tonic Woman brand and cold weather throughout Europe.

Clothing sales dropped "sharply", while the jeans and workwear segment reported an 8.4% decline in sales, and the men's and sportswear division saw sales fall 18.4%.

The company's premium brands, including Baldessarini and Pierre Cardin, posted a 3.4% sales gain and retail sales grew 5% despite the "difficult market situation".

"While the first half of 2012/13 was disappointing, the preconditions for a good second half-year 2013 are in place," Ahlers noted.