US jeweler Harry Winston sales rise 13% in 2012
American jeweler Harry Winston Diamond has reported a 13% growth in consolidated sales to $702m in the year ended 31 January 2012, compared to $624m in the previous year.
Operating profit totaled $56.5m in the year, compared to $68.3m in prior year. Consolidated net profit, attributable to shareholders, was down to $25.5m from $41.5m in the last year.
In the fiscal 2012, earnings before interest, taxes, depreciation and amortization (EBITDA) was $148.2m, up from $145.4m in the prior fiscal year.
In the fourth quarter ended 31 January, consolidated sales were $216m, up from $215.4m in the corresponding quarter a year ago.
During the same period, operating profit surged 45% to $30.7m and net profit, attributable to shareholders, totaled $16.6m. Fourth quarter EBITDA was $58.2m.
The company intends to have about 35 directly operated salons and 15 licensed salons by fiscal 2016, in addition to growing to 300 wholesale timepiece doors.
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