INSJÖN, Sweden--(BUSINESS WIRE)--Regulatory News:
Clas Ohlson (STO:CLASB):
Second quarter 2013/14
· Sales increased by 4 % to 1,678 MSEK (1,614). In local currencies, growth was up 6 %
· Operating profit increased by 23 % to 126 MSEK (102)
· Profit after tax increased by 30 % to 94 MSEK (72)
· Earnings per share increased by 31 % to 1.49 SEK (1.14)
First six months 2013/14
· Sales increased by 4 % to 3,184 MSEK (3,076). In local currencies, growth was up 6 %
· Operating profit increased by 8 % to 218 MSEK (203)
· Profit after tax increased by 13 % to 164 MSEK (145)
· Earnings per share increased by 13 % to 2.59 SEK (2.29)
· Cash flow from operating activities totalled 172 MSEK (176)
Events after the end of the reporting period
· In November, sales increased by 6 % to 702 MSEK (662). In local currencies, growth was up 9 %
“We are pleased that our autumn range has received such a positive response and we are continuing to strengthen our market position. We are growing in all markets and have increased operating profit by 23 per cent during the quarter. It is also pleasing that we have had a favourable start to Christmas trading with high traffic of customers to our stores, which meant that sales in November increased by 9 per cent in local currencies.
“With our unique concept and leading Nordic market position as a basis, we are continuing to expand our operations through both new customer segments and new markets. Preparation for establishment in the Gulf region, Germany and the launch of Clas Office is fully underway and progressing according to plan”, says Klas Balkow, President and CEO, Clas Ohlson AB.
Press and analyst conference
A press and analyst conference will be held on Wednesday, 11 December at 10:00 a.m. at Operaterassen in Stockholm and can also be followed on the Clas Ohlson website http://om.clasohlson.com or www.financialhearings.com
The information in this press release comprises information that Clas Ohlson AB (publ) is required to disclose pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication at 08:00 (CET) on Wednesday 11 December 2013.
About Clas Ohlson
Clas Ohlson was founded in 1918 as a mail order business based in Insjön, Dalarna, Sweden. Today, the company has 182 stores in four countries and sales via the Internet, mail order, telephone and social media. Clas Ohlson helps its customers solve everyday practical problems with a range of affordable products in the five product areas: Hardware, Electrical, Home Multimedia and Leisure categories. The company is listed on the OMX Nordic Exchange and has approximately 4,300 employees. For further information about Clas Ohlson, visit http://about.clasohlson.com (financial information) or http://www.clasohlson.com/uk (e-commerce).
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