Nobia: Continued profit growth

(Figures in brackets refer to the corresponding period in 2005)

 

During the second quarter, kitchen company Nobia increased its net sales by 27 per cent to SEK 4,288 million (3,367). Organic growth amounted to 8 per cent. Profit after tax increased by 44 per cent and earnings per share amounted to SEK 4.66 (3.27). The operating margin strengthened to 9.8 per cent (8.6). Operating profit grew by 46 per cent to SEK 422 million (290). Operating cash flow increased to SEK 393 million (377).

 

The improvement in operating profit during the second quarter was the result of increased sales in all three regions. The French business unit Hygena, which was acquired in February 2006, contributed to both improved operating profit and increased earnings per share.

 

"We are now beginning to see the results of the action programme that was implemented in the UK," says President and CEO Fredrik Cappelen. "We are continuing to invest in more and better stores, which currently total 689, while developing partnerships in important distribution channels. Overall, this contributes to continued organic growth and improved profit."

 

The full report with tables can be downloaded from the following link: