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Interim Results

Jimmy Choo revenues rise

25 August 2016 07:19

Jimmy Choo, the British luxury brand specialising in shoes and accessories, reports revenue growth of 9.2% at reported currency and 3.8% at constant currency in the six months to the end of June.

The group saw continued growth ahead of the market despite the difficult operating environment with reported operating profit up 42.6% at £25.3m.

Total revenues rose to £173.1m while adjusted EBITDA increased by 12.8% to £31.3m.

Chief executive Pierre Denis said: "These results represent an excellent performance in the period, with growth and margin expansion leading to improved earnings, further enhancing the brand's track record of delivery in all market conditions. This is combined with strong underlying cash flow conversion leading to further positive steps on deleveraging. We have made a good start to the second half and we remain optimistic about our prospects both for this year and for our performance in the future." Chairman Peter Harf added: "This is an impressive set of results and it is of great credit to Pierre Denis and his talented teams that they have achieved both growth and margin expansion in such challenging market conditions. The prospects for the business in its 20th year have never looked better and we are confident in its growth prospects and the global opportunity for the brand."

Story provided by StockMarketWire.com

Related Company: CHOO

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