Corporate | 1 December 2010 16:03
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Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Forecast
Press release LUDWIG BECK expects excellent Christmas business and distinctly upgrades its earnings forecast for 2010 Munich, December 1, 2010 – LUDWIG BECK AG (ISIN DE 0005199905) managed to further speed up its pace of growth in November and concluded the month with a 9.5 % branch-adjusted sales plus. The flagship store at Marienplatz, usually generating more than 90 % of turnover, increased sales by approximately 10.0 %. On the basis of this favorable development and in expectation of excellent Christmas business, the management upgraded its earnings forecast for the fiscal year 2010 once again. Earnings before taxes (EBT) are now expected to exceed EUR 9.0m in the fiscal year 2010, while previous forecasts had anticipated well over EUR 7.5m. The Executive Board, together with the Supervisory Board of the company, decided to let employees participate in this record success, and will provide funds in the amount of EUR 0.2m for this purpose. 'It is already apparent that the full fiscal year 2010 will be a peak year for us, after we had already concluded the year 2009 with the best result ever in the company's history. We are now expecting this target to be exceeded by approximately 40 %', Dieter Münch, Chief Financial Officer at LUDWIG BECK AG explained. 'It is a great pleasure for us to let our committed employees participate in this success, for without them our achievements would not have been possible', Münch concluded. The trading statement for the full fiscal year 2010 will be published by the company on January 10, 2011.
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End of Corporate News 01.12.2010 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG | |
| Marienplatz 11 | ||
| 80331 München | ||
| Deutschland | ||
| Phone: | +49 (0)89 2 36 91-0 | |
| Fax: | +49 (0)89 2 36 91-600 | |
| E-mail: | info@ludwigbeck.de | |
| Internet: | www.ludwigbeck.de | |
| ISIN: | DE0005199905 | |
| WKN: | 519990 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Hamburg, Berlin, Düsseldorf, Stuttgart | |
| End of News | DGAP News-Service |
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| 105215 01.12.2010 |