Clas Ohlson Q2 and half year figures

Clas Ohlson has published details of its interim financials, covering the period from the 1st May to 31st October 2012.

For full results please see our Industry Articles pages (www.insightdiy.co.uk/articles).

Second quarter:

* Sales totalled SEK 1,614 M (1,553), up 4%. In local currencies, growth was 6%

* Operating profit amounted to SEK 102 M (124), down 17%

* Profit after tax was SEK 72 M (88), down 18%

* Earnings per share amounted to SEK 1.14 (1.38), down 17%

Six months:

* Sales totalled SEK 3,076 M (2,940), up 5%. In local currencies, growth was 6%

* Operating profit amounted to SEK 203 M (243), down 17%

* Profit after tax was SEK 145 M (173), down 16%

* Earnings per share amounted to SEK 2.29 (2.71), down 15%

* Cash flow from operating activities amounted to SEK 176 M (512)

Events after the end of the reporting period:

* Sales in November amounted to SEK 662 M (636), up 4%. In local currencies, growth was 5%

* On 3 December 2012, Clas Ohlson was included in the Nasdaq OMX Sustainability Index

CEO Klas Balkow comments:

“Clas Ohlson continues to strengthen its position and capture market share in a turbulent market. The weak market trend during the quarter impacted sales and earnings compared with the year-earlier period.

With a strong financial position, we continue to invest for growth and expansion. During the quarter, for example, we opened five new stores and launched a mobile-adapted version of our e-shopping offering in all markets, an important part of our efforts to add new supplementary and interacting sales channels.

“We have had a good start to this year’s Christmas shopping period, not least through our e-shopping and sales of snow blowers and low-energy lighting,” says Klas Balkow, President and CEO.

Source : Clas Ohlson
www.cisionwire.com/clas-ohlson/r/clas-ohlson--interim-report-1-may-2012---31-october-2012,c9348261