Results on a par with last year, excluding non-recurring items

MQ Group profits for the third quarter, excluding non-recurring items, are on a par with last year despite a market that remains demanding and campaign-driven. Sales fell during the quarter, but this was compensated for in terms of profit by a higher gross margin and very good cost control. A transition programme was launched during the spring focusing on both income and efficiency so as to further speed up the work towards change.
 

Third quarter (March – May 2018)  

•  Net sales amounted to SEK 413 million (424), down 2.6 per cent. Like-for-like sales declined 4.3 per cent (according to the Swedish Retail Institute Index, the market’s comparable stores declined 1.4 per cent). 
•  The gross margin was 62.8 per cent (61.6). 
•  Operating profit was SEK 28 million (36), which corresponds to an operating margin of 6.7 per cent (8.4). Operating profit excluding non-recurring items was on a par with the previous year.  
•  Profit after tax for the period amounted to SEK 21 million (27), which equates to SEK 0.59 (0.77) per share after dilution.  
•  Cash flow from operating activities was SEK 27 million (4). 

Nine-month period (September 2017 – May 2018) 

•  Net sales amounted to SEK 1,290 million (1,354), down 4.7 per cent. Like-for-like sales declined 6.0 per cent (according to HUI Research like-for-like sales for the market as a whole declined by 2.1 per cent). 
•  The gross margin was 58.3 per cent (58.2). 
•  Operating profit was SEK 59 million (91), which corresponds to an operating margin of 4.6 per cent (6.7).  
•  Profit after tax for the period amounted to SEK 44 million (69), which equates to SEK 1.26 (1.98) per share after dilution.  
•  Cash flow from operating activities was SEK 47 million (65). 

For more information, please contact:
Christina Ståhl, President and CEO: +46 (0)31-388 80 10
Tony Siberg, Deputy CEO and CFO: +46 (0)31-388 84 01
 

This information is information that MQ Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 19 June 2018 at 07:15 CET.  

MQ Holding AB owns and operates fashion stores under two business areas: MQ is Sweden’s largest retailer of fashion brands today. Through a combination of proprietary and external brands, MQ offers high-fashion menswear and womenswear in attractive stores. Joy targets fashion-conscious women at midlife who desire excellent quality, fit and comfort. The two business areas currently comprise a total of 174 stores as well as online shopping. The MQ Holding share has been listed on the NASDAQ OMX in Stockholm since 18 June 2010. For more information, see www.mq.se 

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