March 16, 2017 / 6:51 AM / 5 months ago

BRIEF-Adler Modemaerkte FY net profit down to EUR 0.4 mln

March 16 (Reuters) - Adler Modemaerkte AG:

* 3.8 percent drop in revenue (-4.6 percent like-for-like) to 544.6 million euros ($584.79 million) in 2016(2015: eur 566.1 million)

* FY EBIT fell from 17.0 million euros to 6.5 million euros

* FY profit of 0.4 million euros (2015: 7.9 million euros)

* Will not propose distribution of a dividend for 2016 financial year

* EBITDA expected to increase to 27 million - 30 million euros in 2017 despite general conditions which remain difficult

* Despite expected substantial improvements in online sales, weakness in textile retail industry is likely to lead to a slight decline in consolidated revenue in 2017 Source text for Eikon: Further company coverage: ($1 = 0.9313 euros) (Gdynia Newsroom)

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