Profits up for fashion giant Mango

16th June 2004, Comments 0 comments

16 June 2004, BARCELONA - The Spanish fashion firm Mango reported a net profit of EUR 64.8 million (USD 77.7 million) for 2003, it was reported Wednesday.

16 June 2004

BARCELONA - The Spanish fashion firm Mango reported a net profit of EUR 64.8 million (USD 77.7 million) for 2003, it was reported Wednesday.

It represents a 7 percent rise compared to the previous year.

Mango MNG Holding SL sales climbed to EUR 782 million (USD 938.4 million) last year -  a 5 percent increase from 2002.

Mango also reduced its net debt by 35 percent, from EUR 105 million (USD 126 million) in 2002 to EUR 70 million (USD84 million) last year.

Nearly three-quarters - 73 percent - of Mango's 2003 turnover was earned abroad, with the remaining 27 percent coming from Spain.

The firm continued its expansion in 2003, opening 104 new stores, 97 of them outside Spain.

As of December, Mango had 704 sales outlets in 72 countries, about 60 percent of which were franchise shops.

[Copyright EFE with Expatica]

Subject: Spanish news

0 Comments To This Article