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UK drives hike in Wolford profit

Austrian hoisery brand Wolford recorded a 20% rise in EBIDTA over the nine months to January 31, 2010 helped by buoyant overseas markets, particularly the UK, where sales jumped 9.8% over the period.

Total sales rose 5.7% during the third quarter, but a 10.7% sales decline in the first half of the year meant total sales for the nine-month period still declined 4.9% to €118.4m (£106.4m).

The brand said sales in its company-owned retail stores, shop-in-shops and factory outlets climbed 7.4% but sales continued to fall at department store concessions and in wholesale.

Wolford said the outlook for the rest of the 2009/10 year remained “positive” but prospects in the medium term were likely to be “challenging.”

Chief executive officer Holger Dahmen said in a statement: “We are well prepared for further growth, based on the consistent implementation of cost reduction and efficiency-enhancing measures as well as a clear focus on our core competencies and markets.”

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