Marimekko has good 2017, revises profits forecast upwards
Marimekko has reported strong figures for 2017 with the Finnish textiles-to-fashion firm seeing its net sales rising 3% but its comparable operating profits surging as much as 41%.
Its preliminary results this week showed that group net sales last year hit €102.3 million, up from €99.6 million a year earlier, while operating profit rose to €8.4 million from €5.2 million. Comparable operating profit rose to €8.6 million from €6.1 million.
That was good news given that the company had estimated full-year figures to be broadly flat year-on-year back when it delivered its interim results in August.
It revised that view in October saying comparable operating profit would be “at the same level as, or higher than, in the previous year,” but the firm has clearly become more confident in recent months.
The boost to the operating profit figure came as it said that Holiday season sales were better than expected. This helped its turnover rise in both its retail and wholesale ops in Finland. Meanwhile, “increased operational efficiency and lower-than-expected costs also had a positive impact on results.”
The figures at the moment are only preliminary and are unaudited. But we’ll get the full story on February 15 when the firm releases its official 2017 financial statement.
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