Europe's Apranga Group's retail turnover surges 15.6% in H1 FY23

The group's unaudited consolidated profit before income tax stood at €9 million in H1 FY23, a notable increase from the €7.1 million recorded in H1 FY22. Similarly, Apranga Group's earnings before interest, taxes, depreciation, and amortisation (EBITDA) experienced growth, reaching €18.9 million in H1 FY23, up from €17.1 million in the same period of the previous year, the company said in its interim report for the first six months of FY23.

The online turnover of the group's stores in H1 FY23 amounted to €18.195 million, a 9 per cent increase compared to H1 FY22, although it reflects a 36.6 per cent decrease compared to H1 FY21. Online sales made up 12.3 per cent of the total turnover, down from the 13.1 per cent and 35.3 per cent shares in H1 FY22 and H1 FY21, respectively.

As part of its strategic expansion, Apranga Group opened three new stores in the first half of 2023. The group also undertook a renovation project involving six stores. Three of these stores were enlarged while the other three were relocated from SC Europa to SC Panorama in Vilnius. However, six stores were closed during this period. The total capital expenditure for retail chain expansion and renovation amounted to €4.7 million.

Fibre2Fashion News Desk (DP)