Fielmann with jump in sales and profits
The optical group Fielmann recorded a significant increase in sales and profits in the third quarter. The company benefited from strong organic growth in its existing markets, as the SDax-listed company announced in Hamburg on Thursday. In a market environment characterized by weak consumer sentiment and recession, Fielmann was able to increase its market share, the management explained. Acquisitions and cost savings gave the chain an additional boost.
Group sales rose by 13.8 per cent to around 526 million euros in the quarter. The ongoing savings program had a positive effect on earnings. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose disproportionately by more than a third to 130 million euros. Before taxes, Fielmann earned 65 million euros, a quarter more than in the same period last year. The company therefore performed better than analysts had expected.
Fielmann's strong third-quarter performance in sales and profits was also reflected in the quarterly EBITDA figure, which increased more than a third to 130 million euros due to the ongoing savings program. The company's optical business showed continued growth, leading to improved overall quarterly figures in the optics industry.
Source: www.dpa.com
