PWT Group managed to realize a turnover of mDKK 182.7 in second quarter of 2015/16 (mDKK 192.6 in 2014/15). The lower turnover is mainly a consequence of two things; a challenging retail market both in Norway and Denmark and closing of Norwegian unprofitable retail stores. New Norwegian mens wear stores are currently being established, in new and strategically improved locations.
Focus on optimizing profit margin has led to increased margin in the second quarter of 2015/16, compared to last year.
PWT Group continue to maintain focus on costs, which have reduced the fixed cost, compared to the same period last year.
The performance and earnings (EBITDA) were satisfactory in the first half of the financial year 2015/16.
Following an increased effort to reduce stock, debtors and deposits, the net debt has been reduced according to expectations at the end of first half of 2015/16, compared to last year.
Net financial items are affected by value adjustments of USD-hedging instruments, both in 2015/16 (negatively) and 2014/15 (positively).
PWT Group still expect a stable and positive development in the second half of the financial year 2015/16, both in turnover and earnings (EBITDA), compared to last year.
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