Hemtex’s interim report: strong rate of profitable expansion
The trend of rapid and profitable growth is holding up for Hemtex, the Nordic region’s leading home textiles chain. During the second quarter of the company’s split fiscal year, covering the period August 1 - October 31, 2006, net sales rose 23% to SEK 346.9 M. The increase in the Group’s comparable stores was 6% (6).Profitability also improved. Operating profit increased by 33% to SEK 47.1 M, giving an operating margin of 13.6% (12.6). Favorable sales growth, a considerably strengthened gross profit margin and acquisitions of franchise stores contributed to the positive earnings trend.