Pandora revenue climbs by 18%
Jewellery brand Pandora has increased its group revenue by 18% year-on-year to DKK 4,612 million in its third quarter.
In the Americas and EMEA regions, revenue rose by 6% and 18% respectively. Meanwhile, revenue in Pandora’s Asia Pacific region climbed by 46%.
Revenue in the UK increased by 16% in local currency but declined by 3% in reported revenue due to the depreciation of the British pound.
Concept store like-for-like sales growth was 4% driven by positive growth in EMEA and Asia Pacific and a flat development in Americas, although US like-for-like sales growth was 3%.
EBITDA increased by 27% to DKK 1,842 million in the period, corresponding to an EBITDA margin of 39.9% compared with 37.2% a year earlier.
Net profit for the quarter was DKK 1,405 million compared with DKK 1,006 million in the third quarter of 2015.
Anders Colding Friis, chief executive of Pandora, said: “Following a strong first half of 2016, PANDORA continued the positive momentum into Q3, with strong growth in particularly Southern Europe and Asia Pacific.
“Additionally, the US continued to deliver solid growth supported by positive like-for-like. The increase was driven by double digit growth across all product categories supported by an attractive and relevant product offering.
“Finally, we improved profitability and increased the EBITDA-margin to 39.9% driven by operational leverage as well as lower realised commodity prices.”
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