DealMakerz

Complete British News World

Clas Ohlson improves score - but closes in UK

Clas Ohlson improves score – but closes in UK

Season Ohlson’s operating profit for the May 2020-April 2021 financial year was SEK 719 million, compared to SEK 608 million last year. Profit after tax was SEK 523 million, compared to SEK 421 million last year. During the fiscal year, sales increased by six percent and amounted to 8,784 million Online sales by nine percent. Claes Olsson also raises his target for operating margin 7-9 percent from the previous target of 5 percent.

The company is also closing its UK operations. The closing cost will be SEK 35 million and will be charged to the next financial year.

Under these circumstances, our employees have repeatedly managed to take on new challenges and have achieved a very strong result throughout the year and total sales that are now back to the same level they were before the pandemic. Operating margin for the full year was 7.3 per cent, thus falling within our profit target, and total sales were approximately SEK 8.8 billion, an increase of 6 per cent. It is gratifying to note that our joint efforts during the year have given us a good and continuing financial standing and a solid foundation on which to stand when we plan for the future, he says. Christopher current toneClas Ohlson, CEO of Clas Ohlson, in a comment.

For the fourth quarter, from February 1 to April 30, Clas Ohlson’s operating profit fell at -10 million SEK. Profit after tax was SEK 16 million, and sales were SEK 1,780 million, an increase of 12 percent over the previous quarter. Online sales are down 19 percent to 221 million, compared to 274 million.

See also  Activists "have no illusions" | TTELA