Clas Ohlson: Interim report 1 May 2011 - 31 July 2011

Clas Ohlson: Interim report 1 May 2011 - 31 July 2011

 

First quarter

* Sales totalled SEK 1,387 M (1,324), up 5%.

   In local currencies, growth was up 7%

* Operating profit amounted to SEK 120 M (115), up 4%

* Profit after tax amounted to SEK 85 M (84)

* Earnings per share amounted to SEK 1.33 (1.32)

Events after the end of the reporting period

* Sales in August totalled SEK 527 M (480), up 10%.

In local currencies, growth was up 11%

CEO Klas Balkow comments:

“We are continuing to grow in all markets despite a generally weak
retail environment. The quarter reflects the continued positive effect
on our gross margin of a higher proportion of direct purchases without
intermediaries. We increased our profit in the quarter compared with the
year-earlier period including continued investment in the UK market.”

“Our long-term initiative to strengthen Clas Ohlson prior to entering
the European market continues. In August, we opened our 12thstore in the
UK market. In August, we increased sales by 11 per cent, measured in
local currencies, and updated our extensive range with 900 news in
conjunction with the release of our new catalogue.”

Analyst and media conference

An analyst and media conference will be held today, Wednesday 7
September at 10 a.m. (CET). For participation, please visit
www.financialhearings.com (http://www.financialhearings.com/)

For more information, please contact:

Klas Balkow, CEO and President, Clas Ohlson AB: +46 (0)247-447 55

John Womack, Director of Information and IR, Clas Ohlson AB: +46 (0)70
678 24 99