Redan hopes for improvement this year., Is not planning a dividend for … – Virtual Poland

Warsaw, 19.03.2015 (ISBnews) – Redan hopes that this year in terms of financial results will be better than last year. The Company limits the activity of the East, while in Poland wants to launch dozens of new stores in both of its segments. The Board will recommend leaving the profit for 2014 years in the company’s deputy Bogusz Kruszyński.

“We hope that the results for this year will be better. At the level of sales you can already see that the first quarter of 2015 is better than last year. This should be a very good year for the discount segment, which earns more and more, and fashion in Poland also want to earn more than last year, “- said in an interview with Kruszyński ISBnews agency.

President announced that, inter alia, due to the development plans of the Board will recommend leaving profits for 2014 years in the company.

“We are not planning any dividend for the previous year. We have plans to open at least 50 stores in the segment of discounters and approx. 20 stores in the fashion segment this year. We have decided to also limit our activities in the East” – stressed .

The net profit amounted to 9.0 million Redanu zł in the previous., Compared to 2.8 million zł year earlier. Revenues increased by 7.5% y / y to 504 million zł. Redan incurred a loss of EUR 8.7 million zł for the valuation of the foreign currency position, which was offset by the amount of 9 million zł as a result of an asset for deferred income tax.

“Our operating profit has doubled to 12.4 million zł, including 8.6 million zł the result has made the discount segment, 2.3 million zł fashion in Poland, but at the same time we were minus 1.6 million zł abroad “- said Kruszyński.

fashion segment sales declined by 0.7% y / y to 228 million zł, trade margins decreased by 2.9% to 97.3 million zł. Redan discounters segment increased sales by 15.4% y / y to 275.9 mln zł and trade margin – 19.5% to 116.1 million zł in 2014.

Kruszyński informed the Redan already secured against the adverse effect of exchange rate differences and this year should not show major losses. The Company will also profited from the creation of assets for deferred income tax.

This year, Redan want to run approx. 20 stores in the fashion segment; they will also appear in the big cities. The company closes the weakest stores and transports them to the new location. The plans are also new discount stores – a total of approx. 50 in Poland and abroad.

Thanks to sell more goods in the first price, the company hopes to increase the fashion segment. He also wants to improve sales in comparable stores, which in the last. Year increased by 7% y / y in Poland. a similar increase in stores like for like segment recorded a discount.

“We have the potential to ensure that the fashion segment result improved, and implemented activities with foreign countries do not allow us to lose this business,” – said Kruszyński.

In the last. The share of foreign sales in Redanu revenues decreased to 19% compared to 29% a year earlier.

Redan Capital Group is engaged in the retail sale of clothing in Poland and in other countries of Central and Eastern Europe. Redan is based on two pillars: the discounting (Textilmarket retail chain), and the fashion (From Top Secret, Troll and – since 2011. – Drywash). Since 2003, the company is listed on the Warsaw Stock Exchange.

Agnieszka Morawiecka

(ISBnews)