Clas Ohlson reports on Q4 and full year financials

Clas Ohlson has today released a year-end report covering the period from 1st May 2011 to 30th April 2012.

The full report is available in PDF format from the Industry Articles section of this website:
http://www.insightdiy.co.uk/articles.asp

Fourth Quarter:

- Sales totalled SEK 1,272 M (1,164), up 9%
- Operating profit amounted to SEK 10 M (4)
- Profit after tax was SEK 7 M (0)
- Earnings per share amounted to SEK 0.11 (0)

12 Months:

-Sales totalled SEK 6,260 M (5,828), up 7%
- Operating profit amounted to SEK 561 M (507), up 11%
- Profit after tax was SEK 400 M (364), up 10%
- Earnings per share amounted to SEK 6.29 (5.71), up 10%
- Cash flow from operating activities amounted to SEK 965 M (350)
- Dividend of SEK 4.25 per share (3.75) proposed

Events after the end of the reporting period:

-Sales in May totalled SEK 434 M (414), up 5%
- Resolution by the Board of Directors to exercise the Annual General Meeting’s authorisation to repurchase shares to guarantee LTI 2012.

CEO and President, Klas Balkow, comments:

“Higher growth and increased profit in the fourth quarter summarise the 2011/2012 financial year – a year when we continued to strengthen Clas Ohlson in a number of areas. We are capturing market shares in a retail sector that remains weak, improving our earnings and have a strong financial position on which to continue our quest to become a leading European retail chain.

“At the end of the quarter, we launched our new e-commerce platform in Sweden and Norway, which was well received. Continued deployment in Finland and the UK is planned for summer 2012 and we will also initiate preparations to expand into additional markets, initially with e-commerce.”

Source : Clas Ohlson via CisionWire
www.cisionwire.com/clas-ohlson/r/clas-ohlson--year-end-report-1-may-2011---30-april-2012,c9272162