Marimekko soars on extra dividend amid Q4 beat, strong cash flow

Marimekko Oyj

15/02/2022 08:12

** Shares in Marimekko  MEKKO.HE  rise 11% after the Finnish
fashion company reported fourth quarter results above estimates
and proposed and extraordinary dividend  urn:newsml:reuters.com:*:nASN0024L7
    ** Marimekko reports net sales rising to 48.1 million euros 
($54 million) amid favourable trend in wholesale and retail
sales in Finland, while consensus expected 42.6 million, per
Inderes
    ** The company proposes a dividend of 3.60 euros in total,
including an extraordinary distribution of 2.00 per share
    ** Inderes, which expected a payment of 1.65 euro per share,
says the extraordinary dividend is more than justified as the
company's operational cash flow is particularly strong and a
need for investment is small
    ** Marimekko expects its sales in 2022 to grow, and Inderes
notes the company has been very conservative in its estimates
    ** Marimekko shares are on top of the Helsinki all-share
index  .OMXHPI 

($1 = 0.8836 euros)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))