LPP confirms Q2 net profit

WSE-listed fashion retailer LPP recorded PLN 173.27 million consolidated net profit in Q2, compared to PLN 89.82 million profit a year earlier, the company reported in the report, confirming earlier estimates. Operating profit amounted to PLN 207.59 million, up by 140 percent y/y. Revenues increased by 13.5 percent y/y growth. Consolidated sales revenues amounted to PLN 1,705.43 million in Q2 2017 compared to PLN 1 502.41 million a year earlier. LfL sales increased by 6.2 percent in Q2, and 5.5 percent in H1. At end-Q2, LPP had 1,710 stores in 19 countries, up by 24 stores y/y, with a total space of 933.7k sqm, up by 7 percent y/y. LPP has several fashion brands in its portfolio, including Reserved, Cropp, House, Mohito and Sinsay. It has been listed on the Warsaw Stock Exchange since 2001. In 2016 the company's consolidated revenue stood at PLN 6.02 billion.