INSJÖN, Sweden--(BUSINESS WIRE)--Regulatory News:
Clas Ohlson AB (STO:CLASB)
Fourth quarter 2013/2014
· Sales increased by 9 % to 1,386 MSEK (1,274). In local currencies, the increase was 10 %
· Operating loss amounted to 18 MSEK (loss: 19)
· Loss after tax amounted to 12 MSEK (loss: 17)
· Loss per share was 0.19 SEK (loss: 0.27)
Financial year 2013/14
· Sales increased by 4% to 6,808 MSEK (6,519). In local currencies, the increase was 7%
· Operating profit increased by 23 % to 531 MSEK (431)
· Profit after tax increased by 22 % to 405 MSEK (332)
· Earnings per share increased by 23% to 6.42 SEK (5.23)
· Cash flow from operating activities amounted to 689 MSEK (518)
· The proposed dividend is 4.75 SEK per share (4.25)
Events after the end of the reporting period
· Sales in May increased by 12 % to 512 MSEK (455). In local currencies, the increase was 13 %
· Decision by the Board of Directors to utilise the Annual General Meeting’s authorisation to buy back shares to secure LTI 2014
“It is gratifying to be able to report a sales increase of 10 per cent in our fourth quarter. We have strengthened growth in all markets and sales channels, primarily as a result of a positive reception from our customers for our broad and attractively-priced spring range.
We continue to invest for the future. In the quarter, we increased our marketing efforts to further strengthen our brand and sales. We have also opened our first franchise store in Dubai and invested in a new franchise model, which will open future growth opportunities in new regions.
Despite these increased investments, our results improved. Improvements were noted both in the fourth quarter, which is our smallest quarter, but mostly for the full-year, when operating profit increased by 23 per cent.
With 13 per cent sales growth in May, we have got off to a good start to the new financial year. It is particularly gratifying to see that our segment continues to develop positively outside the Nordic region,” says Klas Balkow, President and CEO of Clas Ohlson AB.
Press and analyst conference
A press and analyst conference will be held on Wednesday, 11 June at 10:00 a.m. at Operaterassen in Stockholm and can also be followed on the Clas Ohlson website or www.financialhearings.com
Clas Ohlson was founded in 1918 as a mail order business based in Insjön, Dalarna, Sweden. Today, the company is trading in five countries offering outstanding service via its over 180 stores, web shop, catalogue and telephone sales channels. Clas Ohlson helps its customers solve every day practical problems with a wide range of affordable products in five product areas: Hardware, Electrical, Home, Multimedia and Leisure. The company is listed on the NASDAQ OMX Nordic Exchange, has sales of approximately 6.7 billion SEK and over 4,300 employees. For more information on Clas Ohlson, please visit www.clasohlson.com.
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