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BRIEF-LPP confirms Q1 net loss at 117 mln zlotys, plans gross margin at 52-53 pct in 2017
May 17, 2017 / 5:42 AM / 4 months ago

BRIEF-LPP confirms Q1 net loss at 117 mln zlotys, plans gross margin at 52-53 pct in 2017

May 17 (Reuters) - LPP SA:

* CONFIRMED Q1 NET LOSS AT 117.0 MILLON ZLOTYS

* SG&A COSTS INCREASED BY 20.8 PCT TO 719.2 MILLION ZLOTYS

* AT THE END OF Q1 THE COMPANY HAD 1,671 STORES, UP BY 30 STORES YEAR ON YEAR AND RETAIL SPACE INCREASED TO 913,900 SQM FROM 855,000 SQM YEAR ON YEAR

* CAPEX IN Q1 WAS AT 112 MILLION ZLOTYS, UP 212 PERCENT YEAR ON YEAR DUE TO SHIFT IN PAYMENTS FOR STORES OPENED IN Q4 TO Q1, ALONG WITH EXTENDING TERMS OF PAYMENTS BY CONSTRUCTION COMPANIES

* IN 2017 THE COMPANY PLANS TO INCREASE THE AREA OF THE STORE CHAIN BY 11 PERCENT, I.E. BY ABOUT 102,200 SQM

* THE CAPEX PLANNED IN 2017 AMOUNTS TO ABOUT 430 MILLION ZLOTYS

* GROSS MARGIN IN 2017 IS PLANNED AT 52-53 PCT

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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