Saga Furs Oyj Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 31, 2012
July 09, 2012
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Saga Furs Oyj announced unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2012. For the quarter, the company reported net turnover of EUR 24,577,000 against EUR 20,796,000 a year ago. Operating profit was EUR 11,940,000 against EUR 9,191,000 a year ago. Profit before tax was EUR 13,560,000 against EUR 10,273,000 a year ago. Net profit for the reporting period was EUR 9,956,000 or EUR 2.77 per basic share against EUR 7,561,000 or EUR 2.10 per basic share a year ago. Return on equity was negative at 14.8% compared to 12.8% a year ago.
For the nine months, the company reported net turnover of EUR 44,313,000 against EUR 40,070,000 a year ago. Operating profit was EUR 9,877,000 against EUR 10,294,000 a year ago. Profit before tax was EUR 13,980,000 against EUR 12,816,000 a year ago. Net profit for the reporting period was EUR 10,106,000 or EUR 2.81 per basic share against EUR 9,433,000 or EUR 2.62 per basic share a year ago. Net cash inflow from operating activities was 20,612,000 against EUR 39,025,000 a year ago. Investments in tangible and intangible assets were 3,635,000 against EUR 1,775,000 a year ago. Return on equity was 14.5% against 15.7% a year ago.
Saga Furs Oyj is a Finland-based auction house for the fur and fashion related industries. The Companyâs product portfolio comprises raw fur skins, including mink, fox, finnraccoon and karakul lamb, which are primarily sold at the Companyâs international fur auctions. The Companyâs products are categorized under five divisions: Saga Furs Selection, Grading System, Saga Labels, Certified Collection, and Karakul and others. The Company offers furs from European farms. In addition, the Company organizes seminars, related to fur design techniques, for students and teachers of design, fashion editors, furriers and clothing manufacturers, among others. The Companyâs partners range from fur breeders and suppliers on the one side, to clothing manufacturers and fashion houses on the other.