Sex shop group expects big World Cup windfall
16 November 2005, HAMBURG - Europe's largest chain of sex shops, Beate Uhse AG, is hoping for a big windfall when the World Cup football is staged in Germany next year.
16 November 2005
HAMBURG - Europe's largest chain of sex shops, Beate Uhse AG, is hoping for a big windfall when the World Cup football is staged in Germany next year.
Speaking Tuesday following the release of the German-based company's results for the first nine months of the year, group chief executive Otto Christian Lindemann, said he expects next June's World Cup matches to push sales up significantly at Beate Uhse's network of sex shops.
He was commenting after Beate Uhse said that revenue during the first nine months of the year rose by nine per cent to 220.3 million euros with the company's earnings before tax rising by 14.1 per cent to 14.4 million euros.
Lindemann said he was confident that sales this year should grow by five per cent, helping to push up earnings before tax by 15 per cent compared to 2004.
In particular, the company sees growth coming from Central and Eastern Europe, including Slovakia, Slovenia and the Baltic states.
Beate Uhse, which has 320 shops across Europe, plans to open 20 new stores in the not-too-distant future.
Subject: German news