KappAhl half year report 2016: Good profitability and strong financial position
“The second quarter outcome shows a continued strong financial position. The strong gross margin, as in the previous quarter, is a result of our pricing and campaign strategy. Lower overhead expenses in the quarter also contributed to the sound operating profit.”
Read the full CEO statement in the attached report.
- The Group’s sales increased during the quarter by 1.0 per cent in local currencies. Restated in SEK, sales decreased by 1.5 per cent.
- The gross margin was positively affected by continued changes in pricing/campaign strategy.
- Overhead expenses are 3.6 per cent lower than the previous year.
- The operating profit improved to SEK 31 (9) million.
| Second quarter (Dec-Feb) | Half year (Sep-Feb) | |||||
| 2015/2016 | 2014/2015 | Change | 2015/2016 | 2014/2015 | Change | |
| Net sales, SEK million | 1116 | 1133 | -17 | 2281 | 2307 | -26 |
| Operating profit/loss, SEK million | 31 | 9 | 22 | 148 | 104 | 44 |
| Gross margin, % | 58.6 | 57.8 | 0.8 | 62.2 | 60.6 | 1.6 |
| Operating margin, % | 2.8 | 0.8 | 2.0 | 6.5 | 4.5 | 2.0 |
| Profit after tax, SEK million | 14 | -3 | 17.0 | 97 | 58.0 | 39.0 |
| Earnings per share after dilution, SEK (note 1) | 0.18 | -0,04 | 0.22 | 1.26 | 0.77 | 0.50 |
| Cash flow from operating activities, SEK millions | 15 | 95 | -80 | 104 | 163 | -59 |
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 14 April 2016 at 07.30 am.
For further information
Danny Feltmann, President & CEO. Tel 46 31 771 5661.
Anders Düring, Chief Financial Officer. Tel 46 708 887 733.
For photos and company information
Charlotte Högberg, Head Corporate Communications, Tel 46 704 71 56 31, charlotte.hogberg@kappahl.com
KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with close to 380 stores in Sweden, Norway, Finland and Poland. Our business idea is to offer value-for-money fashion of our own design to the many people. Sustainability-labeled fashion accounts for roughly one quarter of the range. Sales for 2014/2015 totaled SEK 4.6 billion and the company has approx. 4,000 employees in eight countries. KappAhl is quoted on Nasdaq Stockholm. More information is available at www.kappahl.com
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