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
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About Elite
Elite is the world's leading model management company, synonymous with modeling prestige and an icon in the industry. Thirty years after opening its doors in Paris, Elite today manages over 800 models from 5 continents.
Elite’s expertise in the modeling industry has led to the success of the world's top models such as Cindy Crawford, Claudia Schiffer, Karen Mulder, Linda Evangelista, Naomi Campbell, Stephanie Seymour, Tyra Banks, Paulina Porizkova and countless others.
Elite offers complete international coverage with wholly–owned agencies in 9 countries and franchises in 30 countries.
The Group’s customers are comprised of leading fashion houses including Chanel, Dior, Yves Saint Laurent, Victoria's Secret, Donna Karan, Ralph Lauren, and Oscar De La Renta.
Elite owns the licensing rights to the most powerful model scouting process in the industry. Launched in 1983, the Elite Model Look Contest is the most prestigious and unique springboard for talent into the modeling industry.
Recognizing the power of its brand, Elite established the Elite Licensing Company S.A. (a wholly-owned subsidiary) in 1998 to develop a mass-market distribution strategy for products bearing a global brand with high perceived value at an affordable price, designed to project a certain lifestyle appeal to young women. Elite develops products with licensing partners that typify the Elite "spirit." This refers to certain brand fundamentals: fashion design, price, accessibility, quality and respect for the consumer. Each licensing initiative Elite pursues embodies these attributes.
As such, the Group seeks partner manufacturers that have an understanding of Elite's values.
Elite licenses numerous products in four general product categories.Apparel:
Street wear and sportswear, tights, lingerie, socks, footwear.
Accessories: Trunks & suitcases, travel bags, beach bags, eyeglass and related products, sunglasses, beachwear and toiletry bags, watches, hair brushes, hair accessories, manicure & pedicure products.
Franchises: Cafés, beauty salons, modeling schools. Cosmetics: Skin care, sun care, hair care, perfumes
Elite’s expertise in the modeling industry has led to the success of the world's top models such as Cindy Crawford, Claudia Schiffer, Karen Mulder, Linda Evangelista, Naomi Campbell, Stephanie Seymour, Tyra Banks, Paulina Porizkova and countless others.
Elite offers complete international coverage with wholly–owned agencies in 9 countries and franchises in 30 countries.
The Group’s customers are comprised of leading fashion houses including Chanel, Dior, Yves Saint Laurent, Victoria's Secret, Donna Karan, Ralph Lauren, and Oscar De La Renta.
Elite owns the licensing rights to the most powerful model scouting process in the industry. Launched in 1983, the Elite Model Look Contest is the most prestigious and unique springboard for talent into the modeling industry.
Recognizing the power of its brand, Elite established the Elite Licensing Company S.A. (a wholly-owned subsidiary) in 1998 to develop a mass-market distribution strategy for products bearing a global brand with high perceived value at an affordable price, designed to project a certain lifestyle appeal to young women. Elite develops products with licensing partners that typify the Elite "spirit." This refers to certain brand fundamentals: fashion design, price, accessibility, quality and respect for the consumer. Each licensing initiative Elite pursues embodies these attributes.
As such, the Group seeks partner manufacturers that have an understanding of Elite's values.
Elite licenses numerous products in four general product categories.Apparel:
Street wear and sportswear, tights, lingerie, socks, footwear.
Accessories: Trunks & suitcases, travel bags, beach bags, eyeglass and related products, sunglasses, beachwear and toiletry bags, watches, hair brushes, hair accessories, manicure & pedicure products.
Franchises: Cafés, beauty salons, modeling schools. Cosmetics: Skin care, sun care, hair care, perfumes
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