Polish retailer CCC's second-quarter core profit jumps 79%

Modivo SA

07/08/2024 17:41

Aug 7 (Reuters) - Polish footwear and fashion retailer
CCC  CCCP.WA  said on Wednesday its second-quarter core profit
jumped 79% year on year, mainly due to higher sales and lower
costs.
    Preliminary earnings before interest, taxes, depreciation
and amortisation (EBITDA) came in at 401 million zlotys ($101.37
million) compared with 224 million zlotys in the year-earlier
period.
    Revenue rose 6% year-on-year to 2.57 billion zlotys, driven
by sales growth in all business segments, CCC, HalfPrice and the
Modivo Group.
    Each business lowered its ratio of costs compared to sales
revenue, CEO Dariusz Milek, who is also the group's founder and
biggest shareholder, said in a statement.
    "We would like to improve it further in the second half of
the year", he added.
    The group said costs in the quarter fell 1%, while retail
space increased by 7%.
    Gross margin rose by four percentage points to 49.5%.
    

($1 = 3.9557 zlotys)

 (Reporting by Marta Maciag; Editing by Rod Nickel)
 ((Marta.Maciag@thomsonreuters.com;))