STOCKHOLM, Sweden, Oct. 16, 2003 (PRIMEZONE) -- Lindex: Strong fourth quarter. Sales increased by more than 10 per cent and operating profit more than doubled.
-- During the financial year, sales increased by 5.6 (6.9) per cent to SEK
5,312M (5,031).
-- Profit after tax increased by 15 per cent and amounted to SEK 177M
(154), equivalent to SEK 12.90 (11.20) per share.
-- Operating profit rose by 14 per cent to SEK 273M (240). Operating
profit was charged with structuralcosts of SEK 10M (0). Profit after
financial items was on a par with the previous year.
-- The operating margin improved to 5.1 (4.8) per cent and the gross
margin increased to 56.3 (55.2) per cent.
-- Cash flow from current operations amounted to SEK 589M (669).
-- The Board of Directors proposes that the Annual General Meeting sets a
dividend of SEK 12.00 (6.00) per share for the 2002/2003 financial
year.
Fourth quarter
-- Sales for the fourth quarter rose by 10.3 per cent (2.7) to SEK
1,365M (1,237). Lindex's same-stores sales increased by 10.9 per
cent compared with the previous year.
-- Operating profit more than doubled and amounted to SEK 96M (34). The
operating margin increased to 7.0 per cent (2.7).
-- Profit after financial items for the fourth quarter increased to SEK
98M (44).
-- The result continued to improve in Germany. Lindex's same-stores sales
grew considerably and increased by 22.4 per cent (-7.4).
The Lindex Group comprises two retail chains: Lindex which has 313 stores in the Nordic market and 30 stores in Germany, and Twilfit which has 58 stores in Sweden, of which 10 are operated as franchise stores. The Group's business areas are Ladies' Wear, Lingerie and Children's Clothing.
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