Net financial debt stood at €107.5 million as of 30 June 2007, compared with €123.4 million as of 30 June 2006, and represents 29.3% of equity.
In Europe, starting with a high third quarter 2006 base, sales revenue for the third quarter of 2007 is as of rising.
In China, the Etam Group anticipates a decrease in sales revenue in the third quarter of 2007 (compared with the third quarter of 2006) due to a downturn in sales revenue like-for-like, evolution in the network of stores, and a negative foreign exchange effect.
In Europe, which represents 80% of consolidated sales revenue, the Group will pursue its development plan while strengthening its cost control beginning in the fourth quarter of 2007.
In China, after years of presence in this market, the Group put a new management team in place to continue its development, with the priorities being: - Clarification of the positioning of the Etam, Etam Sport and Etam Week End brands, - Rationalization of the network of outlets and renewed network expansion, - Strengthening of operating and cost control
The Group will publish third quarter sales revenue on 24 October 2007.
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