The Danish Lars Larsen Group, the parent company of furniture chain Jysk, once again achieved record figures for the 2018/2019 financial year. Operating profit was 3.9% higher than a year ago.
Lars Larsen Group achieved a total turnover of 4.7 billion euros and a pre-tax profit of 499 million euros.
"As a result of heavy investment, the earnings of JYSK were a bit lower than the previous financial year. That makes it even more important that our investment activities as well as a number of other companies in the group have delivered on such a high level that our earnings before taxes improved by 17.5 million euros," says Chairman Jacob Brunsborg.
In addition to Jysk, the Lars Larsen Group also holds investments in a range of other companies, which are active in a wide variety of sectors. According to Brunsborg, the profitability of some companies, such as Actona and Scancom, both of whom are active in the furniture sector, has improved significantly.
"Scancom has really been ahead of its time in many ways. Especially in terms of a strong focus on sustainability and recycled materials. Increased focus on sustainability has been one of the most important developments in 2019, and that also shows in the result of Scancom, which delivers earnings before tax of 3.5 million euros".