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Jimmy Choo 2016 profit drops 20% on higher costs .

 

LONDON–Jimmy Choo PLC (CHOO.LN) reported Thursday a 20% fall in 2016 pretax profit due to booking higher financial costs and a wider loss on financial instruments, and said it opened 10 new directly operated stores in the year and closed one.
Revenue, however, rose 15% to GBP364 million thanks to a weaker British sterling.
Jimmy Choo said its men unit has remained its fastest growing category and that the retail business continues to be the growth engine of the company.
The British luxury brand specializing in shoes and accessories made a pretax profit of 17.7 million pounds ($21.3 million) in the 12 months ended Dec. 31, down from GBP22.1 million from a year ago.
-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

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Gocompare.com profit falls in 2016 on LSE costs

profit drops

LONDON–Gocompare.com Group PLC (GOCO.LN) reported Thursday a 7.3% fall in 2016 pretax profit due to costs related to it floating on the LSE and de-merging from esure Group PLC (ESUR.LN), but backed its 2017 guidance.
The comparison website made a pretax profit of 21.6 million pounds ($26 million) in the 12 months ended Dec. 31, down from GBP23.3 million made in the previous year.
Revenue rose 20% to GBP142.1 million, however.
The board didn’t recommend a dividend, as expected, but reiterated its goal to pay a ratio of between 20% to 40% of profits after tax in dividends.
-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

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profit drops 20%

Sardar Biglari, chairman of Biglari Holdings, Maxim’s parent, had pledged that the magazine would turn a profit by the end of 2016.
For the full year, Maxim’s revenue plunged 62 percent, to $9.2 million, from $24.5 million a year earlier.
For all of 2016, Maxim’s losses totaled more than $10 million, down slightly from 2015.
Maxim cut costs in the fourth quarter, helping the money-losing men’s magazine whittle down its losses in the period, regulatory filings show.
Biglari Holdings did not break out fourth-quarter results for its individual properties — like Maxim and the Steak ’n Shake restaurant chain.

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