Ahlers posts 33 percent drop in H1 revenues

In the first six months of the current fiscal year, revenues at Ahlers Ag dropped by 33 percent to 70.7 million euros since due to the coronavirus pandemic, clothing retailers throughout Europe closed their stores between March and May 2020. The company said in a statement that a set of earnings and efficiency increasing measures as well as cost reduction measures led to a significant reduction in operating expenses to negative 10.4 million euros or negative 19.7 percent. However, the company added that this failed to offset the revenue effect on gross profit, the group’s net income in H1 declined to negative 9.4 million euros compared to negative 1.7 million euros in the previous year.