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Interim report

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Second quarter (December 2010-February 2011)

  • Net sales amounted to SEK 414 million (411), up 0.5 percent. Like-for-like sales fell 4.0 percent (The Swedish Retail Institute Index was down 3.0 percent.)
  • Gross margin was 48.5 percent (50.8).
  • Operating profit totalled SEK 15 million (37), representing an operating margin of 3.4 percent (8.8).
  • Profit after tax amounted to SEK 5 million (26), corresponding to SEK 0.13 (1.14) per share after dilution.
  • Cash flow from operating activities totalled SEK 46 million (85).

First six months (September 2010-February 2011)

  • Net sales amounted to SEK 782 million (766), up 2.1 percent. Like-for-like sales fell 2.6 percent (The Swedish Retail Institute Index was down 2.8 percent.)
  • Gross margin was 56.1 percent (57.3).
  • Operating profit totalled SEK 69 million (83), representing an operating margin of 8.8 percent (10.7).
  • Profit after tax amounted to SEK 42 million (45), corresponding to SEK 1.21 (2.24) per share after dilution.
  • Cash flow from operating activities totalled SEK 69 million (111).

Events during the second quarter

  • MQ’s second store in Norway opened in Drammen.
  • The purchasing and design department was divided into two focused areas of responsibility, and a new design director started in February.
  • The magazine Market ranked MQ as the top service provider in the fashion retail sector.

Events after the end of the reporting period

  • MQ was named “Rookie of the Year” among Sweden’s most attractive employers in Universum’s Employer Survey conducted among students.

 

For more information, please contact:

Johan Elfner, CEO: 031-38 88 015

Tony Siberg, EVP and CFO: 031-38 88 401

MQ is one of Sweden's leading branded fashion wear chains. Through a mixture of proprietary and external brands, MQ offers men and women high fashion clothing in attractive stores. The store chain currently has 111 stores and the objective is to establish MQ as the leading brand chain in the Nordic region. The MQ share is listed on NASDAQ OMX Stockholm since June 18th, 2010. For more information, see www.MQ.se.

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