Swedish clothier chain KappAhl with improved results
The fiscal year for KappAhl, the Swedish fashion chain with more than 400 stores and 4500 employees in Sweden, Norway, Finland, Poland and the Czech Republic shows much improved results against 2012
Net sales improved 19 % to SEK 1148 million (SEK 1129 million) in the fourth quarter and 164 % to SEK 4587 million (SEK 4587 million) for the entire fiscal year (ending August 31). Operating profit increased 14 % in the last quarter to SEKK 43 million (SEK 29 million) and for the full year 316 % to SEK 252 million (SEK -64 million). Gross margin in the fourth quarter was unchanged at 57.0 % and for the full year it was 2.5 % more or an increase from 56.7 to 59.2 %. The net profit after tax amounted in the fourth quarter to SEK 7 million (SEK -40 million) or plus 47 %, and for the full year to SEK 91 million (SEK -224 million) or plus 315 %.
In spite of the much improved results, the board of directors proposes that no dividend will be distributed for this financial year.