Swedish firm Bjorn Borg has reported a 5% increase in net sales during Q3 FY23.
A significant area of growth was seen in the company’s own e-commerce and e-tailers segment, with sales surging by 15% to SEK 95.6 million, up from SEK 83.4 million.
Specifically, sales from their own e-commerce platforms jumped by an impressive 25% to SEK 37.6 million.
The gross profit margin for Q3 FY23 stood at 52.6%, a significant improvement from 48.2% in the previous year.
When adjusted for currency-neutral terms, the gross profit margin was 52.5%, indicating an increase of 4.3 percentage points, as stated in a media release.
Operating profit for the quarter showed a robust increase of 34%, reaching SEK 40.9 million compared to SEK 30.6 million in the same quarter last year.
In currency-neutral terms, the operating profit was SEK 37 million, up by 23%.
Profit after tax also saw a notable increase, rising by 44% to SEK 32 million, compared to SEK 22.2 million in Q3 FY22.
Earnings per share, both before and after dilution, were SEK 1.27, up from SEK 0.88.
For the first nine months of FY23, Bjorn Borg’s group net sales were SEK 674.6 million, a 6% increase from SEK 636.8 million in the same period the previous year.
In currency-neutral terms, this represented a 2% increase.
Net sales for their own e-commerce and e-tailers segment during this period were SEK 265.3 million, a 15% increase, with own e-commerce sales up by 32% to SEK 108.5 million..
