STOCKHOLM, Sweden, April 20, 2005 (PRIMEZONE) -- New Wave Group AB:
-- During January-Mars sales increased by 10% to SEK 517 (469) m.
-- Profit after net financial items decreased by SEK 26.1 m. to
SEK -8.5 (17.6) m.
-- Profit after tax decreased to SEK -7.2 (13.3) m. and profit per
share decreased to SEK -0.23 (0.45).
-- The Corporate Profiling business area's sales increased by
23% to SEK 348 (284) m. Profit on EBITDA-level decreased by
SEK 8.9 m. to SEK 6.5 (15.4) m.
-- The Retailing business area's sales decreased by 9% to SEK 169
(185) m. Profit on EBITDA-level increased by SEK 14.6 m. to
SEK 0.9 (15.5) m.
-- Profit after net financial items deteriorated, due to new
establishments, by SEK 11.3 m, the acquisition of Dahetra
SEK 3.3 m. and lower sales than expected.
-- The lower sales is due to increased price competition and
current lower prices due to the USD currency, which gives
deflation within certain article groups, and due to the fact
that Easter holiday was in March instead of April. The market
has also been less good than expected where the lower sales of
winter garments from last year still was the same. During Q1
2004 the subsidiary Sko-Team had fire smoke damaged shoes on sale
which increased sales.
-- The acquisition of Dahetra consolidated 1 January. The Dahetra
sales was SEK 83 m. 2004.
-- The board proposes to increase the dividend to SEK 1.50 (1.25)
totaling to SEK 47.3 m. Further more the board has proposed a
split 2:1.
-- New Waves earlier forecast about increased profit and sales for
2005 remains, in spite of a deteriorated quarter. The two
most important quarter is still Q2 and Q4.
-- New 5-year creditability facility of SEK 2.100 m.
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