• Revenues add up to EUR 88.6 million
• EBIT margin of 22,5%
• Guidance for full year 2012
confirmed
Munich, 1 November 2012. KINGHERO AG, the German holding
company of a fast-growing Chinese fashion company,
announces today its preliminary results for the first nine
months 2012. The company shows a positive business
development with total revenues adding up to EUR 88.6
million, an increase of 40% compared to the previous
year.
Despite the increasing raw material prices, the gross
profit rose by approx. 41% to EUR 34.5 million mainly
driven by higher average selling prices. EBIT amounted to
EUR 19.6 million which represents an EBIT margin of 22.5%
for the nine months in 2012 (9M 2011: 25.9%).
Guidance confirmed
As planned in its growth strategy, KINGHERO seeks to
develop its existing merchandise categories and increase
sales, both with distributors as well as with its own
flagship stores. The overall sales and margin development
in the first nine months of 2012 is in line with the
company's expectations. KINGHERO anticipates overall sales
of approximately EUR 125.0 million for the whole year of
2012 and sustainable margins on previous year's level.
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.
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