Palmers on the Way Back to Black Figures

CompaniesRetail & Consumer ♦ Published: June 15, 2011; 16:29 ♦ (Vindobona)

The Austrian lingerie group’s results are still negative due to the acquisition of Lejaby. An expansion of the Palmers brand is planned in Germany and CEE.

Palmers on the Way Back to Black Figures / Picture: © Palmers

Palmers reported improved results for its financial year 2010/11 which ended on January 31. The company achieved a positive operating result of € 7m after € 2.4m in the previous year. The acquired French subsidiary Lejaby was still in the red with € 2.7m so that the Palmers-Lejaby-group incurred a net loss of € 15.2m. “We are not at all worried by this result because it…