Clas Ohlson: Interim report 1 May 2010 – 31 October 2010

Regulatory

2010-12-14 08:00 CET

Second quarter

* Sales totalled SEK 1,435 M (1,373), up 5%

* Operating profit amounted to SEK 119 M (145), down 18%.

* Profit after tax totalled SEK 86 M (106), down 19%

* Earnings per share amounted to SEK 1.35 (1.64), down 18%

Six months

* Sales totalled SEK 2,758 M (2,661), up 4%

* Operating profit amounted to SEK 234 M (287), down 18%

* Profit after tax totalled SEK 170 M (207), down 18%

* Earnings per share amounted to SEK 2.66 (3.21), down 17%

Events after the end of the reporting period

* Sales in November amounted to SEK 593 M (538), up 10%

CEO Klas Balkow comments:

Sales growth during the quarter was affected by a lower rate of expansion of new stores in our home markets, as well as negative exchange-rate effects. We can see a clearly positive effect on our gross margin from our work to increase the share of direct purchases without using intermediaries. As a result of our ongoing investments in the UK combined with higher start-up costs for new stores in our home markets, operating profit was lower than in the year-earlier period.

The sales growth in November reflects the positive reception of Clas Ohlson’s Christmas and winter product range, as well as the increase in the number of new stores. During the current financial year, we will have opened 20 – 22 stores, including four new stores in the UK before Christmas.

Analyst and media conference

An analyst and media conference will be held today, Tuesday 14 December at 10 a.m. (CET). For participation, please visit www.financialhearings.com

For more information, please contact:

Klas Balkow, CEO and President, Clas Ohlson AB: +46 (0)247-447 55

John Womack, Director of Information and IR, Clas Ohlson AB: +46 (0)247-444 05

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