Monnari and NG2 had good first quarter

opublikowano: 08-04-2008, 11:43

Warsaw (Puls Biznesu) – The Poles spend more and more for clothes and shoes. Producers and distributors thrive.

Monnari, the listed clothes group increased sales in the first quarter of the year by 104.7 percent to PLN 52.4m (EUR 15.1m). After the report had been published, the stock of the company jumped nearly 5 percent. The management estimates that this year, sales will grow much faster than last year when the growth rate exceeded 50 percent. Monnari brand is the engine for the group. It has 132 shops. The group has also 24 shops with Molton Brand, 25 Pabia shops and six shops selling Tamaris shoes. This year, 80 new shops will be launched. The management is preparing a prospectus in order to issue new shares when the market situation improves. Monnari eyes acquisitions. It wants to have 5-6 brands in its portfolio.

NG2, the producer and distributor of shoes, had PLN 139m of sales in the January-March period, or 33.8 percent more than in the same period of last year.

(PLN 1 = EUR 0.289)

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