COPENHAGEN (Reuters) -Pandora, the world's largest jewellery maker, on Thursday reported first-quarter operating profit above expectations and increased its full-year guidance.
Operating profit rose to 1.51 billion Danish crowns ($215.55 million) from 1.26 billion a year earlier, compared with 1.32 billion expected by analysts in a poll gathered by Pandora.
"Whilst jewellery markets around us generally remain subdued, our ongoing brand investments allow us to take market share," CEO Alexander Lacik said in a statement.
Pandora said it now expects organic revenue growth this year between 8% and 10% compared to previously 6%-9% growth. It kept its operating margin outlook unchanged at around 25%.
(Reporting by Isabelle Yr Carlsson, editing by Stine Jacobsen)
By Isabelle Yr Carlsson
