DGAP-News: KINGHERO AG continues growth rate
(firmenpresse) - DGAP-News: KINGHERO AG / Key word(s): Preliminary Results/Half Year
Results
KINGHERO AG continues growth rate
11.07.2011 / 12:14
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- Euro-based revenue growth of 28% in the second quarter of 2011
- Flagship stores contribute 5% of sales in the second quarter
Munich, 11 July 2011. KINGHERO AG, the German holding company of a
fast-growing Chinese fashion company, has continued its growth rate in the
second quarter of 2011. According to preliminary calculations sales
increased compared to the second quarter 2010 by 28% to EUR 23.1 million.
Adjusted for currency effects, sales growth is in the second quarter 2011
at 38% (Q2 2010: 157 million RMB; Q2 2011: 218 million RMB). Compared to
the first half of 2010, sales in the first half of 2011 increased by 25% to
EUR 41.3 million. On a quarterly base, the growth continues as well:
compared to Q1 2011, sales increased by 27%.
In the second quarter of 2011, KINGHERO has opened nine new flagship
stores. Therewith the company operates at the end of the first half of 2011
a total of 19 flagship stores that generated approximately 5% of total
sales in the second quarter of 2011. The number of flagship stores is to be
further increased at a rapid pace. In 2011, the aim of KINGHERO is to
increase the number of company-operated stores to 65. The company expects
to achieve not only high-margin revenue growth, but also an improvement in
brand management.
Against the background of the very successful second quarter of 2011, the
management board confirms the sales target of EUR 105 million for the full
financial year 2011. Particularly the strong expansion of the own concept
for flagship stores will allow reaching this sales expectancy.
The half-year report is to be published on 29 August 2011.
About KINGHERO AG
KINGHERO AG is the German Holding Company of the KINGHERO Group of
companies, mainly active in the Peoples Republic of China (PRC). The Group
is a strongly growing apparel manufacturer and designer, featuring a
leading Chinese fashion brand for the strongly growing urban middle class
in China. The key to the Company's success is a high fashion degree with a
European 'touch and feel' as well as an upscale quality. The high speed of
the design and marketing of new collections ensures a fit to the changing
demands of the growing urban middle class in China. Being in this business
for more than 25 years, the group and its more than 1,000 employees produce
attire for all seasons under the KINGHERO brand. The product portfolio
includes suits, jackets, shirts, pants and sweaters for men and women and
is divided into a business casual range and a general casual range.
For further information please contact:
Kirchhoff Consult AG
Jens Hecht
Phone: +49 (0) 40 60 91 86 0
jens.hecht(at)kirchhoff.de
KINGHERO AG
Gustav-Heinemann-Ring 44
81739 Munich
Germany
Phone: +49 (0) 89 67 34 68 84
xiaoping.zhao-moll(at)kinghero.de
Disclaimer
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of
KINGHERO AG (the 'Shares') have not been registered under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') and may not be
offered or sold in the United States unless registered under the Securities
Act or pursuant to an exemption from such registration. There will be no
public offering of the Shares in the United Statesand the Shares will not
be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
End of Corporate News
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11.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: KINGHERO AG
Gustav-Heinemann-Ring 44
81739 München
Deutschland
Phone: 089 - 6734 6884
Fax: 089 - 6734 6887
E-mail: contact(at)kinghero.de
Internet: www.kinghero.de
ISIN: DE000A0XFMW8
WKN: A0XFMW
Listed: Freiverkehr in Düsseldorf, Hamburg, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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131563 11.07.2011
Datum: 11.07.2011 - 12:14 Uhr
Sprache: Deutsch
News-ID 34583
Anzahl Zeichen: 0
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Kategorie:
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