Pandora group revenues up 36.8% in Q1

Pandora’s group revenues rose 36.8 percent to DKK 3,547 million in Q1 2015 while its gross margins rose to 71.1 percent up from 69.1 percent in the corresponding period last year.

The company’s net profit stood at DKK 383 million down 54 percent from DKK 704 54 in Q1, 2014. The company attributed this drop to the additional tax expenses and finance costs of DKK 385 million, reports say.

Its revenues reported strong rise in various regions and in the Americas the growth was of 34.4 percent, while in Europe it rose 33.2 percent and by 55.6 percent in Asia.

The company noted that the said quarter led to a good start for the year ahead, ‘with all geographic regions, as well as all product categories generating double digit growth rates’, reports add. Also, it attributed its revenue growth to strong like-for-like sales-out growth in many markets and continued expansion of its concept store network. It also enjoyed healthy profitability evident from the strong cash flow generation in the said period as per the company, reports say. Free cash flow was DKK 990 million in Q1 2015 (DKK 1,049 million in Q1 2014). In the said first quarter the company bought back 943,668 own shares at DKK 569 million as part of the ongoing DKK 3.9 billion share buyback programme, corresponding to 0.7 percent of the total share capital, as per reports.