Interim report

Interim report  

 

First quarter (September-November 2010)

  · Net sales amounted to SEK 368 million (355), up 3.8 percent. Sales
in comparable stores fell 1.0 percent.
  · Gross margin was SEK 64.5 percent (64.7).
  · Operating profit totalled SEK 54 million (46), representing an
operating margin of 14.8 percent (13.1).
  · Profit after tax amounted to SEK 38 million (19), or SEK 1.08 SEK
(0.87) per share after dilution.
  · Cash flow from operating activities totalled SEK 23 million (21).

Events during the first quarter 

  · Launch in Norway, with the first store in central Oslo -
considerable publicity, and the venture is progressing as planned.
  · Three new stores in Sweden - Bromma, Växjö and an outlet store at
Kungens Kurva.
  · Launch of MQ's e-trade unit as a supplement to the chain's 110
street stores.
  · Recruitment of a design manager for the newly created position,
effective 1 February 2011. The executive management team was
strengthened with the inclusion of the Market Manager and Sales Manager
during the quarter.

Events after the end of the reporting period  

  · MQ's second store in Norway opened in Drammen on 9 December 2010

 

 For more information, please contact:

Johan Elfner, CEO: 031-38 88 015

Tony Siberg, EVP and CFO: 031-38 88 401