Esprit Interim Profits Grew Over 37 Percent
Fashion Article Posted January 31, 2008

  

Fashion Event Articles  Apparel Industry Trade Shows  Fashion News  Fashion Shopping Articles Fashion Industry  Fashion Articles Fashion Article Archive Fashion Jobs Designer Search Clothes Shopping Articles Fashion Newspaper  Fashion Designer Directory  Fashion Writers  Fashion Trends  Fashion News Articles  Esprit

 
 

 
 


    
Group turnover grew 27% to HK$18.5 billion


    
Basic EPS increased 36.2% to HK$2.67 per share


    
Net profit margin expanded 1.4% points to 17.8%


    
Net cash position augmented to HK$5.5 billion


    
Interim dividend: HK$0.95 per share, payable on April 3, 2008

 
     

Esprit Holdings Limited (SEHK: 330) this week announced interim results for the six months ended December 31, 2007.


We are excited to report another strong set of results. Our performance is a testimony of the strength of our business model and our capability to sustain growth,
said Mr. Heinz Krogner, Chairman and Group CEO.


In the first half of the financial year, persistent efforts to improve operating efficiency and economies of scale have resulted in an increase of 0.7% point in operating profit margin to 21.7%. Also, benefiting from the recent German tax reform, net profit margin expanded by 1.4% points to 17.8%,
commented Mr. John Poon, Deputy Chairman and Group CFO.


In view of the robust cash position and anticipated strong operating cash flow going forward, the Board has approved an interim dividend of HK$0.95 per share to be paid on April 3, 2008, representing 35.7% yoy increase,
added by Mr. Poon.

Thomas Grote, President of ESPRIT brand said,
our focuses on generating organic growth and expanding our network has led to over 20% turnover growth in all key distribution channels, regions, and product divisions. The turnover growth was not only driven by retail comp-store sales growth of 7.9% but also by strategic expansion of selling space in core as well as potential markets.

Mr. Grote added,
We see the potential weakening of global economic condition an opportunity to gain market share, particularly through retail expansion.  In the second half of the financial year, over 60 retail stores will be opened as we steadily progress towards our target of opening 400 stores in 3 years.
 

 
This year marks the 40th anniversary of Esprit.  A series of promotional events will be held to celebrate this important milestone.  In midst of the recent economic environment, we remain confident in enhancing shareholders value through our proven business model and growth strategies,
concluded by Mr. Krogner.

ESPRIT HOLDINGS LIMITED

UNAUDITED CONSOLIDATED FINANCIAL DATA

(in HK$ millions, except per share data)

 

For the six months ended

31 December 2007

Year-on-year

Growth

Turnover

18,527

27%

Operating profit

4,020

31.3%

Operating profit margin

21.7%

0.7% pt

Profit attributable to Shareholders

3,293

37.2%

Net profit margin

17.8%

1.4% pts

Basic EPS

HK$2.67

36.2%

Net cash

5,502

53.3%

Interim Dividend (per share)

HK$0.95

35.7%

Esprit Holdings Limited is a constituent stock of the Hang Seng Index, MSCI Hong Kong Index, FTSE All-World Index for Hong Kong, S&P/HKEx LargeCap Index and S&P Asia 50 Index. Its subsidiaries are engaged in the retail and wholesale distribution of quality lifestyle products designed under its globally recognized Esprit and edc brands, and of cosmetic and body care products under its Red Earth brand. The Group operates over 650 directly managed retail stores worldwide and distribute through approximately 14,000 controlled-space wholesale point-of-sales internationally, occupying around 950,000 square meters of retail space in more than 40 countries
 

 

Search for additional information about Apparel, Fashion or Clothing.

follow the bouncing fashion ball from Apparel Search

Apparel Search guide to fashion and clothing

 
 
 

Apparel Search   Add Your Company   Contact Us   About Us   Advertise   News Letter   Legal   Help
Copyright 1999-2018

Apparel Search Company.  All Rights Reserved.