On the basis of its preliminary assessment of the accounting trends prevailing in the fourth quarter of 2014/2015, the management of BoConcept Holding A/S is pleased to report that the group will generate higher revenues than previously expected. The improvement is attributable to a ten percent growth in same-store-sales and a positive contribution from exchange rates. Based on this, we make an upward adjustment of revenue growth from the previously predicted 5-6% to about 9% for the full 2014/2015 financial year.
One of the effects produced by the strategic optimisation process launched by the group in the autumn of 2014 is an operating profit (EBIT) of approx. DKK 15 million before special expenses, exceeding management's expectations. The special expenses – which are attributable to the strategic optimisation process, including closure of own stores, extraordinary provisions for franchise stores and goodwill impairment – will amount to approx. DKK 66 million in the 2014/2015 financial year as opposed to the previously anticipated DKK 70 million.
The audit of the 2014/2015 accounts have not been finished yet, and we will elaborate on the results achieved and our outlook for the future in the 2014/2015 annual report for BoConcept Holding A/S, which will be published on 30 June 2015.
Herning, 27 May 2015
For further information, please telephone CEO Torben Paulin on +45 7013 1366.
