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BRIEF-Jewellery maker Pandora Q1 core profit, sales beats forecast, maintains 2017 outlook
May 9, 2017 / 5:48 AM / 3 months ago

BRIEF-Jewellery maker Pandora Q1 core profit, sales beats forecast, maintains 2017 outlook

May 9 (Reuters) - Pandora

* Pandora reports 9 percent revenue growth and continued strong profitability

* Q1 revenue 5,159 million DKK versus 5,086 million seen in Reuters poll (Q1 2016 4,740 million DKK)

* Q1 EBITDA 1,879 million DKK versus 1,779 million seen in Reuters poll (Q1 2016 1,760 million DKK)

* Says full-year guidance remains unchanged including group revenue of DKK 23-24 billion and EBITDA margin of approximately 38 percent

* Says related to Q1 2017 results, Pandora will pay out a quarterly dividend of DKK 9 per share to shareholders (corresponding to DKK 1,006 million)

* CEO says retail climate in United States remains difficult, which was reflected in our performance in us for quarter

* EBITDA margin is still expected to be significantly lower in the first half of 2017 compared with the second half

* PANDORA plans to continue the expansion of the store network and expects to add more than 275 new concept stores in 2017 of which roughly 50 percent are expected to be opened in EMEA, 25 percent in Americas and 25 percent in Asia Pacific Source text for Eikon: Further company coverage: (Reporting by Stine Jacobsen)

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