Clas Ohlson: Interim report 1 May 2012 – 31 January 2013

Swedish retailer Clas Ohlson has today revealed its interim and Q3 results, covering the period 1st May 2012 to 31st January 2013.

Third quarter:

* Sales totalled SEK 2,169 M (2,049), up 6% (in local currencies, growth was 6%)
* Operating profit amounted to SEK 247 M (307), down 19%
* Profit after tax was SEK 204 M (220), down 7%
* Earnings per share were SEK 3.22 (3.46), down 7%

Nine months:

* Sales totalled SEK 5,245 M (4,988), up 5% (in local currencies, growth was 6%)
* Operating profit amounted to SEK 450 M (550), down 18%
* Profit after tax totalled 349 M (393), down 11%
* Earnings per share were SEK 5.51 (6.18), down 11%
* Cash flow from operating activities amounted to SEK 625 M (1,044)

Events after the end of the reporting period:

* Sales in February amounted to SEK 413 M (427), down 3% (in local currencies growth was down 2%). The calendar effect, due to the leap year in the preceding year, is estimated to amount to a negative 4 percentage points.

CEO Klas Balkow comments:

“During the quarter, Clas Ohlson strengthened its market position through continuing growth and higher market shares. The generally sluggish retail market also affected us during the quarter, with lower visitor frequency and lower sales in comparable stores which, combined with our initiatives in new markets and sales channels, affected profit for the quarter compared with the year-earlier period.

We have a strong financial position and are continuing to invest in a number of areas to ensure sustained growth and expansion. In March, for example, we commenced the launch of our first loyalty program, Club Clas, which will further strengthen our offering and competitiveness.”

For the full release, please visit our Industry Articles pages (www.insightdiy.co.uk/articles.asp)

Source : Clas Ohlson
http://about.clasohlson.com/shareholders/Financial-information/Function-Press-releases/