Stockmann Q3 earnings higher yr-on-yr; FY sales seen just over 1.6 bln eur |
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Published
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Wed, 24 Oct 2007 10:52
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HELSINKI (Thomson Financial) - Department store and fashion retailer Stockmann reported an increase in third-quarter pretax profit that came in at 31.5 mln eur, up from 20.4 mln eur a year earlier on a better performance in all it units.Diluted earnings per share recorded 0.42 eur against 0.28 eur a year ago.July-September sales reached 308.6 mln eur, up from 281.1 mln eur in the same period of last year.Looking ahead, the group said it sees no major changes or operational risks, reiterating that sales are expected to grow by 3-4 pct in Finland in 2007.It also said that Russian and Baltic markets are set to continue growing at a faster pace than the Finnish market, stating that full-year sales are projected to be just over 1.6 bln eur.Stockmann also noted that the tender offer for Lindex will result in weakening the group's equity ration at the balance sheet date as this will take place before the end of the financial year.azer.sawiris@thomson.comafs/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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