Footwear and clothing retailer New Wave Group AB has reported that sales increased by 32 percent to SEK 1,652 million during first half of 2006, thereof acquired units contributed with SEK 245 million. This gives an organic growth of 12 percent.
Second quarter sales rose 21 percent to SEK 897 million, thereof acquired units contributed with SEK 109 million. This gives an organic growth of 7 percent for the quarter.
The result after net finance improved by SEK 20.2 million to SEK 86.2 million. The result after tax improved to SEK 63.6 million and profit per share improved to SEK 0.99. Second quarter profit before tax by SEK 14.6 million to SEK 89.1 million.
The Profiling Business Area's sales rose 17 percent to SEK 1,040 million. The Retailing Business Area's sales increased by 69 percent to SEK 612 million.
The company has purchased new offices in Bangladesh, Vietnam, Hong Kong and China. Currently, a lot of resources are spent on strengthening the buying organization.
New Wave has during 2005 made a large number of new establishments and acquisitions. Focus will during 2006 be on getting these new establishments profitable and to integrate Orrefors Kosta Boda Group and Intraco.
For 2006 the sales and result is expected to exceed the preceding year for the New Wave group of companies.
New Wave is a growing company that focuses on delivering promowear, gifts and workwear to companies, as well as clothes, shoes, gifts and textiles to consumers through retailers.
The Group's most well known brands are Orrefors, Kosta Boda, Craft, Sagaform, Seger, Grizzly, DAD Sportswear, Hurricane, New Wave, Clique, James Harvest Sportswear, Printer Active Wear, Toppoint, Mac One, Jingham, Jobman and Pax, as well as Umbro, Nordica, and Rollerblade under licence.
marketing@alchempro.com
