 |
PRESS RELEASES | |||||||||||||||||||||||||
| << back | ||||||||||||||||||||||||||
 |
|
September 14 2004 2003-2004 annual results The Damartex Supervisory Board met on 13 September 2004 to examine the financial statements of the company and its subsidiaries for the financial year ended 30 June 2004. |
||||||||||||||||||||||||
|
||||||||||||||||||||||||||
| Activity Turnover for the year came to € 516.0 million compared with € 488.1 million the previous year, corresponding to a 7.2% increase at constant exchange rates. This increase reflects the significant progress made in the group's main areas of activity, notably in terms of gains in market share. This is the result of the efforts made to stimulate sales and build customer loyalty in recent years: updating and segmenting collections, product innovation, overhauling communication and merchandising strategies, improving service quality and making more efficient use of marketing actions and databases, etc.
Operating profit came to € 17.0 million, up by 39.3% from € 12.2 million the previous year. This is the result of further productivity gains and attests to the effectiveness of the measures taken in recent year to streamline companies and improve efficiency: adjusting the cost structure, offsetting the seasonal aspect of sales in recent years, overhauling operating methods, etc. Pre-tax profit on ordinary activities grew by 58.7% from € 10.4 million to € 16.5 million while net profit rose from € 2.2 million the previous year to € 10.3 million in the year just ended (x 4.7).
Net cash amounted to € 8.1 million compared with € 5.6 million the previous year.
The results for the year just ended have led management to confirm the objectives announced earlier, i.e. average annual sales growth of around 5% at constant scope, with an operating margin in excess of 4% of turnover. They also enable the company to envisage further developments, such as partnerships in Eastern and Southern Europe and the exporting of the existing business model to Northern Europe. These projects will be tested thoroughly as the group's approach is pragmatic and the field of action is vast.
The Management Board will propose to the General Meeting of Shareholders on 7 December the distribution of a net dividend of € 0.40 per share, to be paid on 23 December.
<< back |