Europe headquartered Pandora Jewelry reported a 26% increase in global revenue and a 19% rise in net profits for the quarter ended September 30, 2014, as comaperd to the same period a year earlier, a company release stated. It reported revenues of DKK 2,845 million (aprrox US$ 476 mn) and profit after tax of DKK 725 million (approx US$ 121 mn) for Q3. This is the company’s highest revenue and EBITDA in any quarter to date, the release stated.

While the jeweller said that the increase was across all regions, in percentage terms the strongest performance was seen in the Asia-Pacific region (43.2%) followed by Europe (30.4%) and the Americas (17.7%).

In terms of revene during Q3 2014, 41.0% was generated in Americas (43.9% in Q3 2013), 46.9% in Europe (45.4% in Q3 2013) and 12.1% in Asia Pacific (10.7% in Q3 2013).

During the first three quarters of the year, the company has reported revenues of DKK 7,981 mn (approx US$ 1,336 mn) and profits of DKK 2,091 mn (approx US$ 350 mn).

According to the statement, growth was driven by a combination of strong like-for-like growth across most markets as well as the continued expansion of the store network, including 296 new concept store openings over the last 12 months.

Pandora’s focus on expanding the branded sales network continues and in Q3 2014, the company opened net 93 new concept stores, including 22 in Americas, 58 in Europe and 13 in Asia Pacific.

Commenting on the results, CEO Allan Leighton said: “All regions continued to perform well, driven by expansion of the store network, improving store execution, and continuously relevant products. In addition, the result of our focus on rings is particularly pleasing, with revenue for the category almost doubling in the quarter.”

Pic courtesy: Pandora