- Prachi Singh |
Consolidated sales at SMCP, the parent company of Sandro, Maje and Claudie Pierlot, reached 493.3 million euros (570.4 million dollars), up 15.5 percent at constant currency in the first six months of 2018, which the company said, were driven by 27.2 percent international sales growth at constant currency. Reported sales rose 12.4 percent, including a negative currency impact of 3.1 percent. The company added that like-for-like sales growth was 5.8 percent, driven by the dynamism of the brick and mortar store network as well as the exceptional results of the digital strategy, as digital sales reached 14.3 percent of the Group net sales, a 200bps improvement over H1 2017.
Commenting on the results, Daniel Lalonde, SMCP’s Chief Executive Officer, stated in a statement: “This achievement underlines the effectiveness of our strategy, to generate profitable growth through the dynamic expansion of our core business, the success of our e-commerce approach and new store openings in highly attractive locations. With this very strong performance, we are on track to achieve our 2018 full-year guidance.”
SMCP posts strong profit growth in H1
SMCP said, adjusted EBITDA increased by 14.8 percent to 83.9 million euros (96.9 million dollars) in H1 2018, driven by sales growth as well as margin expansion, while the adjusted EBITDA margin increased from 16.7 percent to 17 percent. The Group net income rose from 1.1 million euros (1.2 million dollars) in H1 2017 to 27.4 million euros (31.6 million dollars) in H1 2018, while diluted EPS stood at 0.347 euros against 0.002 euro in H1 2017.
SMCP added that the company will continue to roll out its long-term strategy, leveraging all its growth levers including like-for-like growth, by growing its core business, accelerating accessories, men and digital as well as store expansion in strategic international markets. For the year 2018, SMCP anticipates another year of profitable growth, targeting a sales growth above 13 percent at constant currency and around 17 percent expansion in its adjusted EBITDA margin.