Pandora comes out of 2010 with a turnover of 6.666 million Danish kroner. which surprised the market. According to SME Direkt market expectation was 6.388 million Danish kroner. The profit before tax is roughly as expected, ie 2.252 million against expected 2.257 million.
Pandora explains that the turnover in the last quarter have increased more than the company had expected.
”This growth was due to increased demand for its products in established markets and expansion into new markets. Growth was also a reflection of Pandora’s increased direct distribution, including the purchase of Pandora CWE in January 2010”, writes management.
For 2011 the growth is expected to continue according to the management with a revenue increase of at least 25 per cent. and an EBITDA margin of at least 40 percent.
The company has decided to pay a dividend to the shareholders of 5 Danish kroner per share.