Børsens News Service in English
B&O promises a positive result next financial year
Af Uffe Hansen
24-08-2010
09:40
After two years with a negative financial result, B&O’s CEO Karl Kristian Hvidt Nielsen now expects a positive result in the next financial year, 2010/2011. B&O’s result before tax for the 2009/10 financial year was negative at DKK 50 million against a negative result of DKK 523 million last year, the company wrote in its full-year financial report which also showed that the result before tax for the fourth quarter was positive at DKK 22 million against a negative result of DKK 108 million for the fourth quarter of 2008/2009. The hi-fi expert group increased turnover for the fourth quarter to DKK 770 million against DKK 617 million for the same period last year.
The majority of the Group’s markets showed progress in the fourth quarter and the Group’s two largest markets, Germany and Denmark, reported a turnover growth of 27 per cent. The group has reduced its capacity costs by DKK 465 million or 29 per cent. The improvement in the result for the financial year 2009/2010 is close to meet the analysts’ expectations.
The B&O management does not specify its expectations for the next financial year but in order to meet the analysts’ expectations the management must deliver a profit before tax of DKK 51 million.
B&O closed a large number of shops in the past financial year. In the 12 months’ period June 2009-June 2010 the Group closed totally 141 outlets across the world, corresponding to 12 per cent. Among them the group closed 55 B1 shops and 85 shop-in-shops.
»The 2009/10 financial year saw a net decline in the number of B1 shops of 55. 33 B1 shops were opened or upgraded while 88 shops were closed or converted to shop in shops. The number of shop in shops is 300 against 385 at the end of the previous financial year,« the B&O management wrote in the report.
»Based on the recent positive turnover devleopment in the mature shops, the Group plans to intensify the efforts to recruit new outlets,« the Group wrote. The Grouop expects that the total number of B1 shops will not be significantly different at the end of the 2010/11 financial year compared to the end of the 2009/10 financial year.
The majority of the Group’s markets showed progress in the fourth quarter and the Group’s two largest markets, Germany and Denmark, reported a turnover growth of 27 per cent. The group has reduced its capacity costs by DKK 465 million or 29 per cent. The improvement in the result for the financial year 2009/2010 is close to meet the analysts’ expectations.
The B&O management does not specify its expectations for the next financial year but in order to meet the analysts’ expectations the management must deliver a profit before tax of DKK 51 million.
B&O closed a large number of shops in the past financial year. In the 12 months’ period June 2009-June 2010 the Group closed totally 141 outlets across the world, corresponding to 12 per cent. Among them the group closed 55 B1 shops and 85 shop-in-shops.
»The 2009/10 financial year saw a net decline in the number of B1 shops of 55. 33 B1 shops were opened or upgraded while 88 shops were closed or converted to shop in shops. The number of shop in shops is 300 against 385 at the end of the previous financial year,« the B&O management wrote in the report.
»Based on the recent positive turnover devleopment in the mature shops, the Group plans to intensify the efforts to recruit new outlets,« the Group wrote. The Grouop expects that the total number of B1 shops will not be significantly different at the end of the 2010/11 financial year compared to the end of the 2009/10 financial year.
*****||*****B&O promises a positive result next financial year*****||*****After two years with a negative financial result, B&O’s CEO Karl Kristian Hvidt Nielsen now expects a positive result in the next financial year, 2010/2011. B&O’s result before tax for the 2009/10 financial year was negative at DKK 50 million against a negative result of DKK 523 million last year, the company wrote in its full-year financial report which also showed that the result before tax for the fourth quarter was positive at DKK 22 million against a negative result of DKK 108 million for the fourth quarter of 2008/2009. The hi-fi expert group increased turnover for the fourth quarter to DKK 770 million against DKK 617 million for the same period last year.
The majority of the Group’s markets showed progress in the fourth quarter and the Group’s two largest markets, Germany and Denmark, reported a turnover growth of 27 per cent. The group has reduced its capacity costs by DKK 465 million or 29 per cent. The improvement in the result for the financial year 2009/2010 is close to meet the analysts’ expectations.
The B&O management does not specify its expectations for the next financial year but in order to meet the analysts’ expectations the management must deliver a profit before tax of DKK 51 million.*****||*****
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