MACINTOSH TRADING UPDATE 2005
[BIZ: Maastricht, January 13] Thanks to a good performance by Kwantum, turnover of the Living sector rose by 2.1% in the second half-year, following a fall of 7.4% in the first half. The furniture activities realised a lower turnover in 2005. On balance, turnover of the sector for the full year fell 2.8% to EUR 338.1m (2004: EUR 347.7m). The turnover of the shoe formulas (Dolcis, Manfield, Invito and PRO sport) was up on 2004 despite 6 fewer stores on average. Turnover on continuing activities in the Fashion sector (including Nea International) rose from EUR 140.6m to EUR 141.8m (up 0.8%).The Automotive & Telecom sector achieved turnover of EUR 310.2m in 2005 (2004: EUR 276.2m). The 12.3% rise was due to higher turnover at BelCompany in the Netherlands as well as Belgium. Halfords’ turnover was at the same level as in 2004. Development of resultsPartly thanks to better than expected results in the final two months of 2005, the operating result on continuing activities will show a considerable rise. Combined with a positive operating result at Superconfex (trading result, impact of sale and discontinuation of activities, and a gain on the sale of property; 2004 trading loss: EUR 3.4m), this results in an expected increase in the total operating result for 2005 of some 50% (2004: EUR 30.0m).As a result of the above expectation regarding the operating result and thanks to both lower financial expenses and a reduced tax burden, we expect that the net profit for the full year 2005 will show a greater percentage increase than the operating result (2004 net profit: EUR 19.6m).The annual figures for 2005 will be published before the opening of the stock exchange on March 16, 2006. On the same day, they will also be presented at an analysts’ meeting and a press conference at 9.30 a.m. and 11.30 a.m. respectively in the Okura Hotel, Amsterdam. The figures in this press release have been prepared in accordance with IFRS. They have not been audited.Share splitTo increase the marketability of shares in Macintosh Retail Group NV, a proposal will be submitted to the General Meeting of Shareholders on April 26, 2006 to split the shares in the ratio of three new shares for one existing share.
Macintosh Retail Group’s turnover increased by 1.5% to EUR 817.5m in 2005 thanks to an exceptionally good second half-year. The company expects the operating profit for the full year 2005 to rise about 50% compared with 2004 (EUR 30.0m). The percentual increase in net profit is expected to be even greater (2004: EUR 19.6m).Development of turnoverFollowing a decrease in the Dutch non-food retail sector of 3.7% in the first half of 2005, Netherlands Statistics reported a rise in the third quarter of 1.2%. Turnover of Macintosh Retail Group went up 1.5% in 2005, from EUR 805.1m to EUR 817.5m. The turnover on continuing activities (excluding Superconfex) rose by 3.3% to EUR 790.1m (2004: EUR 764.5m), as a result of a 9.0% increase in turnover in the second half of the year that more than offset the 2.5% decline in turnover in the first half. The rise in turnover in the second half was due both to higher turnover by comparable stores and to expansion. The phased sale of all clothing stores resulted in Superconfex’s turnover dropping with EUR 13.1m to EUR 27.4m.
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