Significant earinings improvement for the full year
Operating income was SEK 4 M (6) in the fourth quarter. Sales for comparable stores in Sweden were stable and clearly above the negative market trend during the quarter. Year-on-year profit in the quarter was affected by a slightly lower gross margin, increased investments in marketing and delayed deliveries in Polarn O. Pyret. Full year operating income increased to SEK 63 M (36).
FOURTH QUARTER, 1 JUNE 2017 – 31 AUGUST 2017, IN SUMMARY
- Sales for comparable stores in Sweden decreased by 0.2 percent during the quarter, above the market downturn of 2.4 percent.
- Net sales were SEK 555 M (555).
- Operating income was SEK 4 M (6).
- Profit after tax was SEK -13 M (10), of which market value of currency hedges was SEK -11 M (7).
- Earnings per share was SEK -0.38 (0.31).
- Cash flow from operating activities was SEK -24 M (18).
THE PERIOD, 1 SEPTEMBER 2016 – 31 AUGUST 2017, IN SUMMARY
- Sales for comparable stores in Sweden decreased by 0.7 percent in the period, above the market downturn of 2.0 percent.
- Net sales were SEK 2.222 M (2,173).
- Operating income before amortization was SEK 110 M (88).
- Operating income was SEK 63 M (36).
- Profit after tax was SEK 30 M (26), of which market value of currency hedges was
SEK -14 M (0). - Earnings per share was SEK 0.90 (0.76).
- Cashflow from operating activities was SEK 51 M (64).
- The Board of Directors proposes a dividend of SEK 0.30 per share (0.25).
EVENTS AFTER THE END OF THE PERIOD
Acquisition of Frontmen.com to further strengthen the digital development.