Lifestyle brand Esprit announces record turnover & profits
29 Aug '07
2 min read
Esprit Holdings Limited announced final results for the year ended June 30, 2007. “Another year of remarkable results for FY06/07 again demonstrates our ability and commitment to deliver sustainable and profitable long-term growth,” said Mr Heinz Krogner, Chairman and Group CEO.
“The Group continues to deliver double-digit percentage growth with overall margin improvement. Group's operating profit margin and net profit margin improved by 0.7% point and 1.5% points to 21.1% and 17.5% respectively."
"The growth was driven by healthy growth from all product divisions as well as distribution channels. To share our success with shareholders, the board has recommended to increase the total full year dividend to approximately HK$4 billion, representing 38% increase from last year,” Mr John Poon, Deputy Chairman and Group CFO commented.
The retail segment delivered a strong turnover growth rate of 32.2% and a 2.8% points EBIT margin improvement, primarily driven by comparable-store-sales growth of close to 20%; while the wholesale segment also recorded a solid turnover growth rate of 23.4%, a significant pick up from 17.1% in the first half of the financial year, with a net addition of approximately 1,600 controlled-space wholesale point-of-sales to around 13,000 worldwide.
While further penetration into core markets continued to show success in capturing market share, development in high growth markets also delivered encouraging results. Impressive turnover growth rates were recorded in Italy, Spain, the Middle East and India during the financial year.
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