French Etam Group achieved a net profit growth of over 13 % in its previous fiscal year, while its operational profit also grew more than 5 %. Due to less successful ventures in China, turnover growth was only 0.4 %.
Etam Group's turnover reached 1.22 billion euro, which was still a 3.1 % like-for-like growth. European turnover grew 4.3 % to 838 million euro, while Etam Group's store chain managed a like-for-like European turnover growth of 3.1 % - only to see its Chinese activities drop 3.6 %. Etam Group's retail branch managed a 679.1 million euro turnover, which is a 5.4 % turnover growth and a 3.1 % like-for-like growth.
The group hopes it can open up new markets in Southeast Asia and South America in 2015, while it will normally close down fewer stores in China.