Continued progress in H2 2013/2014
· All business divisions progressed to plan
· Stable sales growth with particularly strong performance in wholesale
division PWT BRANDS
· Challenging market conditions in Denmark affected sales in the retail
division, which upheld margins
· Positive development in earnings and cash flow
Strong development in 2013/2014
· Performance was satisfactory across divisions, and earnings (EBITDA)
increased by 16%
· The wholesale division showed continued growth in sales and earnings with
increased export sales
· The retail division won market shares and upheld its profit margin despite
declining sales
· PWT Group optimized operations in the retail division and invested further
in the wholesale division
· Cash flows were positively affected by improved terms with suppliers and
reduced inventories
· Net financials were positively affected by hedging of USD fluctuations
· PWT Group expects increased sales and earnings (EBITDA) in 2014/15
[HUG#1874521]
