February 23, 2017 / 5:31 AM / 5 months ago

BRIEF-LPP Q4 net profit lowers to 158.2 mln zlotys YoY

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Feb 23 (Reuters) - LPP SA:

* Q4 net profit 158.2 million zlotys ($38.87 million) versus 172.3 million zlotys a year ago

* Q4 revenue 1.85 billion zlotys versus 1.58 billion zlotys a year ago

* Space growth and positive sales in like for like stores resulted in an 18 pct increase in sales revenues in Q4 2016

* Q4 operating profit 201.9 million zlotys versus 235.4 million zlotys a year ago

* Q4 gross margin at 50.8 percent versus 54.8 percent year on year

* Q4 like for like sales up 5.1 percent year on year

* FY net profit 175.9 million zlotys versus 351.3 million zlotys a year ago

* CAPEX planned in 2017 amounts to about 440 million zlotys, which is around 60 pct year-on-year more due to the quicker increase in retail space

* Group’s gross margin in 2017 is planned at 52-53 pct

* In 2017 plans to increase the area of store chain by 11.7 pct, that is by approx. 107,800 square meters Source text for Eikon: Further company coverage: ($1 = 4.0697 zlotys) (Gdynia Newsroom)

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