Clas Ohlson: Interim Report 1 May 2011 – 31 January 2012
* Sales amounted to SEK 2,049 M (1,906), up 7%.
In local currencies, growth was 7%
* Operating profit amounted to SEK 307 M (270), up 14%
* Profit after tax amounted to SEK 220 M (194), up 14%
* Earnings per share amounted to SEK 3.46 (3.05), up 13%
* Sales amounted to SEK 4,988 M (4,664), up 7%.
In local currencies, growth was 7%.
* Operating profit amounted to SEK 550 M (504), up 9%
* Profit after tax amounted to SEK 393 M (364), up 8%
* Earnings per share amounted to SEK 6.18 (5.71), up 8%
* Cash flow from operating activities amounted to SEK 1,044 M (485)
Events after the end of the reporting period
* Sales in February amounted to SEK 427 M (383), up 12%.
In local currencies, growth was 10%
CEO Klas Balkow comments:
“We are continuing to grow in a generally weak retail sector, and we noted our highest ever quarterly earnings. We are continuing to develop our strong base in the Nordic region, with particularly favorable development in Finland.
With strong finances and a strong cash flow, we are investing in continued expansion toward our long-term objective of becoming a leading European retail trade chain. We plan to open 15-20 new stores during the coming financial year,” says Klas Balkow, President and Chief Executive Officer.
Analyst and media conference
For more information, please contact:
Klas Balkow, CEO and President, Clas Ohlson AB: +46 (0)247-447 55
John Womack, Director of Information and IR, Clas Ohlson AB: +46 (0)70 678 24 99
The information in this press release comprises information that Clas Ohlson AB (publ) is required to disclose pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication at 08:00 (CET) on Thursday 8 March 2012.
Clas Ohlson AB is a Swedish chain store that sells, amongst other things, hardware, electrical, multimedia, and home and leisure products. It is the largest hardware chain in Scandinavia. The company was founded in 1918 by the technically-minded Clas Ohlson (1895–1979), as a mail order business based in the Swedish village of Insjön, Dalarna. Initially, only manuals and technical literature were sold. He opened his first shop in Insjön in 1926 and there are now stores throughout Sweden, as well as in Norway and Finland. In 2008, the company opened its first store in the United Kingdom, in Croydon, south London. There are now stores at the Arndale Centre in Manchester, at The Harlequin in Watford, in Kingston upon Thames, Reading, Liverpool, Leeds, Birmingham, Cardiff, Doncaster, Norwich and Newcastle.