LPP confirms its Q3 net profit

WSE-listed fashion retailer LPP had a PLN 85 million net profit in Q3 confirming its early estimates. Last year, the company had PLN 6.49 million loss. The group’s consolidated revenue stood at PLN 1.81 billion, a 22 percent y/y growth, while EBIT amounted to PLN 103 million compared to PLN 4.8 million profit last year. LfL sales grew by 15.2 percent y/y. Internet sales increased by 137 percent y/y to PLN 74.8 million. For the full year, LPP expects PLN 350 million profit from e-commerce and plans to double the profit in 2018. LPP’s brand portfolio includes Reserved, Cropp, House, Mohito and SiNSAY.