- Prachi Singh |
Net sales at Björn Borg increased by 14.3 percent to 205.7 million Swedish krona (24 million dollars). The company said currency effects on sales were marginal in the quarter. The gross profit margin was 56.3 percent compared to 50.4 percent last year, while operating profit amounted to 32 million Swedish krona (3.8 million dollars) against 28.6 million Swedish krona (3.3 million dollars), same quarter last year.
“During a two-week period in August we created the highest measured PR value generated to date by a single campaign. The signature tennis collection and fashion show received a lot of attention, including in Vogue magazine. After the campaign, the singer Lady Gaga did a yoga session wearing our Clara High Waist Tights and Björn Borg Solid Triangle bra, which she immortalized in an Instagram post to her 26 million followers,” commented the company’s CEO Henrik Bunge on the initiatives taken to drive growth.
Highlights of Q3 and nine month results
Profit after tax amounted to 24.6 million Swedish krona compared to 24.7 million Swedish krona and earnings per share before and after dilution amounted to 0.98 Swedish krona (0.12 dollar) compared to 0.95 Swedish krona (0.11 dollar).
For the nine month period to September 30, 2017, the group’s net sales increased by 14.3 percent to 526.2 million Swedish krona (62 million dollars). Excluding currency effects sales increased by 13.3 percent. The gross profit margin was 52.6 percent for the period compared to 51.1 percent last year.
Operating profit amounted to 38.5 million Swedish krona compared to 42.8 million Swedish krona (5 million dollars), while profit after tax amounted to 26.3 million Swedish krona (3.1 million dollars) against 29 Swedish krona (3.4 million dollars). Earnings per share before and after dilution amounted to 1.04 Swedish krona (0.12 dollar) compared to 1.14 Swedish krona (0.14 dollar) in the prior year.