Swedish home textiles trading company Hemtex AB posts 1Q operating profit of SEK11.4m

Wed. September 03, 2008; Posted: 10:04 AM

Sep 03, 2008 (NORDIC BUSINESS REPORT via COMTEX) -- HMTXF | Quote | Chart | News | PowerRating -- Swedish home textiles trading company Hemtex AB issued on Wednesday (3 September) its report for the first quarter of the financial year 2008/2009, posting an operating profit of SEK11.4m, as compared to SEK50.4m in the first quarter of 2007/2008.

The decline reflects a weak sales development and higher costs.

The net turnover for the period amounted to SEK352.7m, down by 8.5% compared to SEK385.5m in the corresponding quarter last financial year.

Hemtex, headquartered in Boras, Sweden, sells home textiles through own and franchise stores. The company has 208 Hemtex stores in the Nordic countries, Estonia and Poland.

One British pound (GBP) is worth approximately 11.62 Swedish kronor (SEK).

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