DGAP-News: Powerland AG showed sales growth of 41% (in RMB) during April and May 2011
(firmenpresse) - DGAP-News: Powerland AG / Key word(s): Development of Sales/Market
Report
Powerland AG showed sales growth of 41% (in RMB) during April and May
2011
21.06.2011 / 06:58
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Powerland showed sales growth of 41%
(in RMB) during April and May 2011?Year-on-year sales growth of 41% in RMB
(33% in EUR) during April and May 2011?Sales growth was driven by volume increase
and through higher prices?Realized gross margin was substantially higher
than during the same period of 2010
Frankfurt / Main, 21 June 2011 - Powerland AG (Prime Standard / ISIN
DE000PLD5558), leading Chinese manufacturer of exclusive luxury handbags
and leather goods and listed on the Frankfurt Stock Exchange since 11 April
2011, disclosed today a trading update on the operational performance and
growth as seen during April and May 2011.
Overall, business development in April and May 2011 was in line with
management's 2011 performance expectations and follows strong first quarter
2011 results.
Powerland experienced a healthy demand for their products in April and May
2011, resulting in year-on-year sales growth of around 33% in EUR and of
41% in RMB. As seen during the first quarter, this was driven by volume
growth, both organically and through new store openings, as well as through
higher prices. During these first two months of Q2 2011 the Luxury segment
grew by 80% in RMB and the Casual segment by 14% in RMB, year-on-year.
The gross margin realized during April and May 2011 was substantially
higher than the gross margin realized during the same period of 2010, and
was broadly in line with the overall gross margin experienced in Q1 2011.
EBIT improvement was similar compared with that of the previous year. EBIT
margin in April and May 2011was slightly lower than in Q1 2011 but
comfortably ahead of the Company's guidance of at least 24% for the full
year 2011. This reflects slightly higher selling and distribution costs
incurred from the media and autum/winter launch conference held in May, the
new store openings during the last two months and, to some extent, higher
administrative costs.
Overall, Powerland also continued to progress ist planned store roll-out,
and was in line with the objectives disclosed at the IPO. Four new
shop-in-shop stores had been opened in April 2011 in three locations
(Dalian, Zhengzhou and Yinchun) and another six new shop-in-shop stores in
May 2011 in five locations (Shenyang, Chengdu, Changzhou, Shijiazhuang and
Taizhou). Moreover four new shop-in-shop stores in four different locations
(Beijing, Chongqing, Wuhan and Shenyang) are set to follow during the
course of this month, bringing the total shop-in-shop store openings to 16
for the first half of 2011 as originally planned. The opening of
Powerland's first self-operated flagship store in Shanghai is expected to
take place in late July 2011.
The Board of Management therefore remains confident in the Company's future
objectives and performance.
Powerland AG will release its report on the business performance for the
second quarter of the fiscal year 2011 on 24 August 2011.
Contact:
HFN Kommunikation GmbH
Daniela Münster
PR for Powerland
Phone: +49 6196 77 641 20
E-Mail: pr(at)powerland.ag
PvF Investor Relations
Jörg Peters
IR for Powerland
Phone: +49 172 67 49 792
E-Mail: ir(at)powerland.ag
About Powerland
Powerland (ISIN DE000PLD5558, WKN PLD555, Ticker Symbol 1PL)
is a leading Chinese producer of fashionable luggage and bags with
a main focus on high-quality luxury women's handbags made of genuine
leather. Powerland operates two business segments - a luxury segment under
the Powerland brand and a casual segment under the Sotto brand. Powerland's
operating subsidiaries are located in Fujian province and Guangdong
province in China. In 2010, Powerland realised Group sales of EUR 112.6
million, an operating profit (EBIT) of EUR 27.0 million and
a net profit of EUR 22.6 million. At present, Powerland employs
approximately 1,075 employees
Additional information may be found under www.powerland.ag
End of Corporate News
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21.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Powerland AG
Westhafentower
60327 Frankfurt am Main
Deutschland
Phone: +49 172 - 67 49 792
Fax: +49 6196 - 777 99 66
E-mail: info(at)powerland.ag
Internet: www.powerland.ag
ISIN: DE000PLD5558
WKN: PLD555
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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129228 21.06.2011
Datum: 21.06.2011 - 06:58 Uhr
Sprache: Deutsch
News-ID 34435
Anzahl Zeichen: 0
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Kategorie:
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