INSJÖN, Sweden--(BUSINESS WIRE)--Regulatory News:
Clas Ohlson (STO:CLASB):
Third quarter 2013/14
· Sales increased by 3 % to 2,238 MSEK (2,169). In local currencies, the increase was 7 %
· Operating profit increased by 34 % to 330 MSEK (247)
· Profit after tax increased by 25 % to 254 MSEK (204)
· Earnings per share increased by 25 % to 4.03 SEK (3.22)
First nine months of 2013/14
· Sales increased by 3 % to 5,422 MSEK (5,245). In local currencies, the increase was 6 %
· Operating profit increased by 22 % to 549 MSEK (450)
· Profit after tax increased by 20 % to 418 MSEK (349)
· Earnings per share increased by 20 % to 6.61 SEK (5.51)
· Cash flow from operating activities amounted to 652 MSEK (625)
Events after the end of the reporting period
· In February, sales increased by 6 % to 438 MSEK (413). In local currencies, the increase was 8 %
· The Board of Directors has updated the company’s long-term sales target to annual sales growth of at least 2 per cent in local currency and for comparable units. The Group’s long-term profitability target comprising an annual operating margin of at least 10 per cent stands firm.
“Our fine sales growth resulted in Clas Ohlson’s best-ever quarterly result. This is proof that our offering is successful and appreciated by a growing number of loyal customers. We continue to strengthen our position in all markets and sales for the quarter increased a total of 7 per cent in local currencies. Our positive progress in Finland is particularly encouraging and the UK continues to move in the right direction.
Clas Ohlson’s offensive future investments continue and Clas Ohlson’s first franchise store in Dubai will open before summer. Preparations for the German establishment are also proceeding as planned and we aim to open our first store in the German market in 2015.
The fourth quarter opened on a positive note, with a sales increase of 8 per cent in local currency in February, and we are well-equipped for the spring with many new additions to our product range”, says Klas Balkow, President and CEO, Clas Ohlson AB.
Press and analyst conference
A press and analyst conference will be held on Wednesday, 12 March at 10:00 a.m. at Operaterassen in Stockholm and can also be followed on the Clas Ohlson website 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 March 12, 2014.
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 every day practical problems with a range of affordable products in the five product areas: Hardware, Electrical, Home, Multimedia and Leisure. The company is listed on the NASDAQ OMX Nordic Exchange and has approximately 4,300 employees. For further information about Clas Ohlson, visit www.clasohlson.com.
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