Nine months to September 30, 2008
1.The global economic slowdown impacted modeling revenues resulting in a reduction of 5% over the corresponding period in 2007. While the licensing division continued to progress, it was similarly impacted with growth in revenues slowing to 14%.
2.Overall gross margins decreased slightly from 46% to 45%. An increased overhead charge resulted from certain costs which were incurred in relation to the EML Final in Prague.
3.Year-to-date net profit, after interest, tax and minority interests declined by 16% against Q3, 2007 and, correspondingly, earnings per share for the period declined from 10 cents per share to 9 cents per share.
4.To reflect a more accurate split in costs between Models Fees and Commissions and Overhead Expenses, the 2007 Income Statement has been restated in order to be comparable to 2008. This is purely to facilitate the understanding of the financial statements and has no impact on the Net Profit in either period.
OUTLOOK :
The severity of the current economic crisis makes it difficult to forecast with any degree of certainty how our business will evolve in the coming months. We have been experiencing price pressure since the beginning of the year and while the increased strength of the dollar is a positive element there will undoubtedly be adverse effects from pressure on advertising budgets for some time to come. While reduced consumer spending will impact our licensing business, we are optimistic that the expansion of our business into new Markets (North America and China) will allow us to maintain a strong growth.
Mittwoch, 24. Dezember 2008
Dienstag, 23. Dezember 2008
Mittwoch, 17. Dezember 2008
Elite World "add"
12/16/08 - First BerlinLONDON, December 16 (newratings.com) - Analysts at First Berlin maintain their "add" rating on Elite World SA (E1M), while reducing their estimates for the company. The target price has been reduced from €3.50 to €3.10.In a research note published this morning, the analysts mention that the company’s 9M revenues and gross profits fell y/y due to the financial crisis. The softening economy is likely to adversely impact Elite World’s performance in the short term, the analysts say. The EPS estimates for 2008 and 2009 have been reduced from €0.16 to €0.13 and from €0.23 to €0.22, respectively.
Sonntag, 14. Dezember 2008
BUSINESS DEVELOPMENTS 2008
Elite and Soho will open more than 120 Elite Concept stores Elite World and Jiangsu SOHO International Group Corp. bring together their expertise and know-how to create a successful partnership. Through this license agreement, SOHO will open more than 120 Elite concept stores in China in the next five years.
Opening in Milan (Italy) of the first Elite Fashion Academy. For more information see the website http://www.elitefashionacademy.it/
Signature of 3 new license agreements for US, Canada and Mexico : - With Hebe for denim wear, active wear, and sportswear - With California Tights for hosiery - With Rizza & Associates for eyewear including sunglasses and optical glassesThese products will be available from Spring/Summer 2009
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