KINGHERO AG: Consistent growth in first nine months of 2012
Preliminary results 9M 2012
- Revenues add up to EUR 88.6 million
- EBIT margin of 22,5%
- Guidance for full year 2012 confirmed
KINGHERO AG, the German holding company of a fastgrowing 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%).
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.
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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.