Toupargel Groupe SA Announces Audited Sales Results for the Fourth Quarter, Second Half and Full Year of 2016; Provides Earnings Guidance for 2016
Over all of 2016, sales were down 5.0% to EUR 293.2 million, owing to erosion in the customer base. The average shopping basket continued to increase, rising EUR 1.5 to EUR 53.8 (incl. VAT) and reflecting the quality of the product range.
For the second half of 2016, the company reported sales of EUR 148.1 million against EUR 156.9 million a year ago.
For 2016, the group expects to post an operating margin of approximately 1.0%. Net debt totalled EUR 7.3 million excluding the competitiveness and employment tax credit. The offsetting entry for the credit's pre-financing (EUR 13.9 million) is found under tax credits on the assets side of the balance sheet (EUR 15.4 million). Gearing (net debt/shareholders' equity) stood at 9%.