Pandora continues to sparkle
Pandora has generated a lot of success in recent years by perfectly skewering the combination of luxury products and affordability. And, this looks set to continue as they have shown revenue growth in their full year sales, which will delight investors and executives of the Danish firm.
The company have revealed that group revenue for the full fiscal year 2016 came in at DKK 20,281 million, which was up 21% on the previous year, or 24% in local currency.
This rise in revenue was driven by improved performance across a range of key Pandora regions. The firm were up 5%, 27% and 46% across the American, EMEA and Asia Pacific regions, respectively. Also, revenue from their concept stores rose by 37%, which corresponded to 66% of revenue.
The company stated that: ‘Roughly 50% of revenue growth for 2016 was driven by growth in stores open for more than 12 months (including all sales channels) and roughly 50% was driven by expansion of the network, including forward integrations.’
Pandora Jewellery share price over the last two years
As of 09 February 2017: 844.50
SOURCE: Yahoo Finance
Anders Colding Friis, CEO of Pandora, said: “2016 was another great year for PANDORA, where we significantly improved our global branded presence. We delivered as promised and reached a number of milestones including more than DKK 20 billion in revenue and opening our concept store number 2,000.
Cash flow generation continued to be solid, and we propose to almost triple the total dividends in 2017 to DKK 36 per share. This is of course a token of our strong belief in the business, but also to align our cash return with our shareholders’ preferences.”
Looking ahead, the jewellery firm stated that over the coming year they would continue to create growth through their existing stores, whilst expanding their base of stores in ‘newer as well as in developed markets’.
Dominion holds Pandora in its Global Trends Luxury Fund.
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