During the fourth quarter, revenue landed at SEK 414 million. This represents a 2 percent increase in Swedish currency compared to the same period last year. Operating profit increased by 5 percent, reaching SEK 66 million.
For the full fiscal year, revenue amounted to SEK 2 billion, corresponding to a 5 percent increase in Swedish currency. Operating profit landed at SEK 422 million, an 18 percent increase.
New chapter for the e-commerce company
The new fiscal year began with the acquisition of another company. On July 10, the company acquired 90.1 percent of the shares in the sportswear brand Icaniwill.
This is our first acquisition and marks the beginning of a new exciting chapter for the group. We are adding acquisitions to our strategy and strengthening ourselves with a fast-growing and profitable brand,” says CEO Paul Fischbein in a statement.
Challenges in the German market
Growth during the quarter was however partially slowed down by a weak market in Germany.
In the region encompassing Germany, Austria and Switzerland, sales increased by a total of 3 percent in local currency. In the Nordics, the corresponding figure was 7 percent, with Sweden growing by 12 percent.
Looking ahead, the company awaits its next interim report, which according to an updated calendar will be released on November 19.
Market conditions in the fourth quarter, especially in Germany, were weak and continue to be challenging. Despite this, we note that we continued to deliver sales growth in local currencies in July,” says Paul Fischbein.