(Alliance News) - Take Off Spa reported Monday that it ended 2022 with double-digit year-on-year revenue growth.

The adult and children's clothing and accessories retail trade company's revenues rose 13 percent year-on-year to EUR29.8 million from EUR26.4 million in 2021.

Parent company Take Off posted revenues of EUR23.7 million, up 19 percent from EUR19.9 million in 2021, while Over Spa, which specializes in Overkids branded products for children up to 14 years old, posted revenues of EUR6.1 million, down 5.8 percent from EUR6.5 million in 2021.

The group's average selling price is EUR18.42 from EUR15.11 in 2021. Specifically, for Take Off, it stands at EUR27.22 from EUR23.97 in 2021 while for Over it increases to EUR8.18 from EUR7.09.

Relative to the fourth quarter alone, core revenues stand at EUR10.3 million and up 19 percent from EUR8.6 million in the fourth quarter of 2021.

Aldo Piccarreta, president and chief executive officer of Take Off, commented, "The results recorded in 2022 highlight the resilience of the group's business model, which is able to act in a very changeable global market environment, also strongly affected by inflation. The increase in revenues at the same time as the increase in average selling price represent a significant value of the group's potential. The efforts made so far and the results achieved are a drive for management to continuously improve."

Take Off's stock is unchanged at EUR4.39 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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