Half year report. KappAhl goes against the trend:Increased sales and gross margin on a weak market
| Q2 (Dec-Feb) | Half year (Sep-Feb) | ||||||||
| 2012/2013 | 2011/2012 | Change | 2012/2013 | 2011/2012 | Change | ||||
| Net sales, SEK million | 1 148 | 1 119 | 29 | 2 393 | 2 312 | 81 | |||
| Operating profit excluding non-recurring items, SEK million | -35 | -55 | 20 | 69 | -39 | 108 | |||
| Operating profit, SEK million | -36 | -138 | 102 | 145 | -122 | 267 | |||
| Gross profit margin, % | 55,1 | 51,9 | 3,2 | 59,3 | 55,3 | 4,0 | |||
| Operating margin excluding non-recurring items, % | -3,1 | -4,9 | 1,8 | 2,9 | -1,7 | 4,6 | |||
| Profit after tax, SEK million | -64 | -163 | 99 | 51 | -174 | 225 | |||
| Earnings per share, SEK | -0.85 | -7,14 | 6,29 | 0,82 | -3,55 | 4,37 | |||
| Cash flow from operating activities, SEK million | -51 | 68 | -119 | 24 | 63 | -39 | |||
- Net sales increased by 2.6 per cent for the quarter. Of this, the increase in comparable stores was 0.3 per cent.
- The gross margin improved by 3.2 percentage points.
- The equity /assets ratio increased to 45.6 per cent.
“It is gratifying that KappAhl is reporting positive sales in comparable stores and a substantially improved gross margin. I see this as a confirmation of continued improvements of our assortment and customer offer…”
Johan Åberg, President and CEO. Read the full CEO statement in the attached report.
A presentation and telephone conference will be held for analysts, media and investors today at 9.30 at Operaterrassen in Stockholm. Please go to www.kappahl.com/presentations to register attendance. At the website a webcast will also be shown in real time and saved for later viewing. To participate by telephone please call about 5 minutes before start +44 (0)207 7509950.
For further information:
Johan Åberg / President and CEO, tel. + 46 706 099 973
Håkan Westin / CFO, tel. + 46 704 715 664
For pictures and other information:
Charlotte Högberg / Head Public Relations, tel. +46 704 715 631, charlotte.hogberg@kappahl.com
The information in this interim report is disclosed by KappAhl AB (publ) pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 12 April 2013 at 07.30 am.
KappAhl was established in 1953 and is a leading fashion chain soon with 400 stores and 4,500 employees in Sweden, Norway, Finland, Poland and the Czech Republic. KappAhl sells value-for-money fashion with a wide appeal – to women, men and children – and focuses in particular on women aged 30-50 with families. All clothes are from our own designers. KappAhl was the first fashion chain to achieve environmental certification in 1999. In the 2011/2012 financial year KappAhl's net sales were SEK 4.6 billion. KappAhl is listed on NASDAQ OMX Stockholm. More information can be found at www.kappahl.com.
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