- Pressemitteilung BoxID 330601
Ahlers reports strong sales growth in Premium segment and stable total sales for H1 2011/12
Solid financial position slightly improved / Restructuring initiated at Gin Tonic
The disappointing figures of Gin Tonic put a damper on the generally positive sales performance. Overall, the Men's & Sportswear segment reported a EUR 3.7 million decline in sales (-17.7 percent). Consequently a comprehensive reorganisation concept was initiated at Gin Tonic in late June 2012, which is to be implemented in the second half of 2012. Under new management, Gin Tonic will focus on the larger, intact menswear operations.
The company's own Retail revenues rose by 11 percent. As a result, the Retail segment now accounts for 10.3 percent of total sales, up from 9.3 percent in the previous year. Like-for-like Retail revenues increased by 2.0 percent against the market trend.
Due to price pressure at Gin Tonic and the conservative valuation of inventories, gross profit declined in the first half of 2011/12. This trend was mitigated by lower expenses. At the bottom line, EBIT before special effects declined to EUR 4.6 million (previous year: EUR 5.8 million). As a result of lower inventories and receivables, the Ahlers Group's equity ratio improved slightly to a very solid 62.5 percent (previous year: 60.3 percent). Cash flow from operating activities exceeds the prior year level by EUR 4.7 million due to the positive trend in net working capital. The Group's net income for 2011/2012 will probably be below the previous year's EUR 10.1 million due to the operating performance and the restructuring expenses. The positive cash flow trend should continue in the second half of the year, allowing a solid balance sheet and a satisfactory dividend at the end of the fiscal year.
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