LPP continues to grow twice as fast as the market

"Our revenues grow twice faster than in the whole apparel sector," emphasized LPP deputy president Dariusz Pachla. The company posted zł.297.2 million in revenues from H1 sales which marks a growth of 73% as compared to the same period last year. It also posted a net profit of zł.39.1 million as compared to just zł.5.3 million a year ago. Members of the company's board are delighted with the results but believe that they could be better. The net profitability of LPP amounted to 9% in H1, while the large global apparel producers achieve 16%. "We are developing very fast which is why the profitability is low," said Pachla. At the end of June the company had 279 apparel stores, including 169 under the Reserved brand and 110 Cropp Town outlets, but plans to increase the number to 309 by the end of the year. "We still open the majority of our stores in Poland but we attach increasing importance to expansion abroad, We are especially interested in the Russian and Ukrainian markets which are developing dynamically," stated Pachla. Although no forecasts for this year were revealed, the company believes that annual sales revenues may amount to zł.1.2 billion. (Parkiet, p. 5; Rzeczpospolita, p. B3) E.B.