KINGHERO AG
KINGHERO AG continues growth rate
KINGHERO AG / Key word(s): Preliminary Results/Half Year Results 11.07.2011 / 12:14 --------------------------------------------------------------------- - Euro-based revenue growth of 28% in the second quarter of 2011 - Flagship stores contribute 5% of sales in the second quarter Munich, 11 July 2011. KINGHERO AG, the German holding company of a fast-growing Chinese fashion company, has continued its growth rate in the second quarter of 2011. According to preliminary calculations sales increased compared to the second quarter 2010 by 28% to EUR 23.1 million. Adjusted for currency effects, sales growth is in the second quarter 2011 at 38% (Q2 2010: 157 million RMB; Q2 2011: 218 million RMB). Compared to the first half of 2010, sales in the first half of 2011 increased by 25% to EUR 41.3 million. On a quarterly base, the growth continues as well: compared to Q1 2011, sales increased by 27%. In the second quarter of 2011, KINGHERO has opened nine new flagship stores. Therewith the company operates at the end of the first half of 2011 a total of 19 flagship stores that generated approximately 5% of total sales in the second quarter of 2011. The number of flagship stores is to be further increased at a rapid pace. In 2011, the aim of KINGHERO is to increase the number of company-operated stores to 65. The company expects to achieve not only high-margin revenue growth, but also an improvement in brand management. Against the background of the very successful second quarter of 2011, the management board confirms the sales target of EUR 105 million for the full financial year 2011. Particularly the strong expansion of the own concept for flagship stores will allow reaching this sales expectancy. The half-year report is to be published on 29 August 2011. About KINGHERO AG KINGHERO AG is the German Holding Company of the KINGHERO Group of companies, mainly active in the Peoples Republic of China (PRC). The Group is a strongly growing apparel manufacturer and designer, featuring a leading Chinese fashion brand for the strongly growing urban middle class in China. The key to the Company's success is a high fashion degree with a European 'touch and feel' as well as an upscale quality. The high speed of the design and marketing of new collections ensures a fit to the changing demands of the growing urban middle class in China. Being in this business for more than 25 years, the group and its more than 1,000 employees produce attire for all seasons under the KINGHERO brand. The product portfolio includes suits, jackets, shirts, pants and sweaters for men and women and is divided into a business casual range and a general casual range. For further information please contact: Kirchhoff Consult AG Jens Hecht Phone: +49 (0) 40 60 91 86 0 jens.hecht@kirchhoff.de KINGHERO AG Gustav-Heinemann-Ring 44 81739 Munich Germany Phone: +49 (0) 89 67 34 68 84 xiaoping.zhao-moll@kinghero.de Disclaimer This document is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The shares of KINGHERO AG (the 'Shares') have not been registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the Shares in the United States and the Shares will not be registered under the Securities Act. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. End of Corporate News --------------------------------------------------------------------- 11.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: KINGHERO AG Gustav-Heinemann-Ring 44 81739 München Deutschland Phone: 089 - 6734 6884 Fax: 089 - 6734 6887 E-mail: contact@kinghero.de Internet: www.kinghero.de ISIN: DE000A0XFMW8 WKN: A0XFMW Listed: Freiverkehr in Düsseldorf, Hamburg, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 131563 11.07.2011
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