SRP Groupe reports lower than expected results

SRP Groupe SA

24/10/2017 18:57

Oct 24 (Reuters) - French online fashion retailer 
Showroomprive  SRPG.PA  reported a 28 percent rise in 
third-quarter revenue on Tuesday and predicted a similar 
increase for the full year to around 690 million euros ($812 
million). 
    Previously the company, also known as SRP Groupe, had 
predicted growth of between 28 and 33 percent this year. 
    It also said earnings before interest, tax, depreciation and 
amortisation (EBITDA) are now expected to total around 25 
million euros this year, excluding Saldi Privati, which it 
acquired last year. It had previously predicted EBITDA of 30 
million euros.   
    SRP Group expects its EBITDA margin (excluding Saldi 
Privati) to be around 4 percent, less than the 5.5 to 6 percent 
it had forecast earlier.  
    "Given the fact that the third quarter was lower than 
expected, and given the fact that we are seeing more logistic 
costs than expected, we will not be able to fully recover in the 
fourth quarter what we have lost in margin," a company official 
told a conference call. 
    However, the company maintained its longer term forecast, 
with a revenue target of 1.1 billion euros and an EBITDA margin 
above 7.5 percent in 2020. 
($1=0.8498 euros) 
 
 (Reporting by Camille Raynaud; Editing by Greg Mahlich and 
David Evans) 
 ((Camille.Raynaud@thomsonreuters.com;)) 
 
Keywords: SRP GROUPE FORECAST/