Beter Bed expects to double profit in second quarter of 2010
Â·Â Â Â Â Beter Bed Holding N.V. realised revenue of â‚¬ 81.7 million in the second
quarter of 2010. This represents an 8.2% increase compared to the same period of
Â·Â Â Â Â Net profit in the second quarter of 2010 is forecast to at least double in
comparison to the second quarter of 2009.
Following 4.6% growth in revenue in the first quarter, the rise in revenue was
even stronger in the second quarter at 8.2%. Revenue increased in the key
markets of the Netherlands and Germany in the second quarter of 2010 by 12% and
5% respectively. As a result revenue in the first six months of 2010 totalled â‚¬
178.2 million, representing a 6.2% increase in comparison to the first six
months of 2009. Revenue at comparable stores within the Beter Bed Holding
formulas rose by 1% in the first six months of 2010.
Revenue performance per country in the first six months of 2010 was as follows:
NetherlandsÂ Â Â Â 12%
GermanyÂ Â Â Â Â Â Â 2%
AustriaÂ Â Â Â Â Â Â Â Â 9%
SwitzerlandÂ Â Â Â Â 20%
SpainÂ Â Â Â Â Â Â Â Â -9%
BelgiumÂ Â Â Â Â Â Â Â 6%
PolandÂ Â Â Â Â Â Â Â 73% (grew from two to four stores)
51 stores were opened and 30 were closed during the first six months of 2010.
This equals a net increase of 21 stores. There were a total of 1,085 stores at
the end of June 2010.
Net profit is generally lower in the second and third quarters than in the first
and fourth quarters due to the seasonal pattern.
Net profit in the second quarter of 2010 is expected to amount to at least â‚¬
1.6 million, which is double the net profit of â‚¬ 0.8 million realised in the
second quarter of 2009. A 50% rise in net profit in the second quarter of 2010
was still being forecast in April.
Net profit in the first six months of 2010 is expected to total at least â‚¬ 9.8
million (net profit first six months of 2009: â‚¬ 6.2 million).
Beter Bed will publish its final interim figures before the opening of the
Amsterdam stock exchange on 27 August 2010.
Beter Bed operates in the European bedroom furnishings market. Its activities
include retail trade through a total of 1,085 stores at the end of June 2010
that operate via the chains Beter Bed (active in the Netherlands), Matratzen
Concord (active in Germany, the Netherlands, Austria, Switzerland, Belgium and
Poland), El Gigante del ColchÃ³n (active in Spain), BeddenREUS, DormaÃ«l and
Slaapgenoten (all three active in the Netherlands) and MAV (active in Germany).
Beter Bed Holding is also active in the field of developing and wholesaling
branded products in the bedroom furnishings sector in the Netherlands, Belgium,
Germany and Spain via its subsidiary DBC International. Beter Bed Holding
achieved net revenue of â‚¬ 361.5 million in 2009. The company has been listed on
Euronext Amsterdam since December 1996. The Beter Bed Holding share is included
in the Amsterdam Small Cap Index.
For more information, please contact: Ton Anbeek, Chief Executive Officer
Tel. +31 (0)413 338819 / Fax +31 (0)413 338829 / Mob. +31 (0)6 53662838
E-mail:email@example.com / Website: www.beterbedholding.com
Please click on the link below for the pdf version of the press release
Press release 16-07-2010: http://hugin.info/132850/R/1432062/378337.pdf
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Source: Beter Bed Holding NV via Thomson Reuters ONE