Marchpole Holdings FY profit remains flat on higher sales
28 Jun '06
2 min read
Marchpole Holdings Plc, the rapidly growing international fashion brand management group, has announced its preliminary results for the year ended 31st March 2006.
Financial and Operational Highlights:
-- Turnover up to £38.4m (2005:£31.5m) -- Operating profit £5.5m (2005: £5.1m) -- Profit before tax £4.9m (2005: £4.9m) -- EPS of 2.6 pence per share (2005: 2.3 pence) -- Final dividend of 0.45 pence per share proposed payable in September 2006 (2005: 0.45 pence) -- Strong forward order book - Autumn/Winter 2006 over £40m (2005:£14.9m) -- Acquisition of Moda America LLC, immediately earnings enhancing -- Appointment of Michael Morris as Executive Deputy Chairman, John Harrison as Finance Director and Donald Potard as CEO Europe for Jean Charles de Castelbajac and Emanuel Ungaro
Commenting on the results, Michael Morris, Executive Deputy Chairman, said: “The last year has been one of significant progress for the company and we continue to build for the future. A major achievement during the year was the acquisition of Moda America LLC, the US licensee for Emanuel Ungaro, which expands our global reach and importantly offsets the termination of the Yves Saint Laurent licence.
“Marchpole has evolved from being a single brand, single country business to a diversified multi-brand international business with strong growth potential. We now operate through wholly owned subsidiaries in the major fashion centres of the world – the UK, mainland Europe in France and Italy, Asia and the USA – for a wide range of internationally recognized fashion brands. Additionally we are negotiating an exclusive distribution agreement to supply both the JCC range and Ungaro into nine Middle Eastern and Gulf states and anticipate that an agreement will be signed imminently.
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