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Pandora: exceeds FY targets - share up

( - Pandora's stock gained some ground on Tuesday after the Danish jeweller reported preliminary annual results that are above its targets.

At noon, the world's leading jeweller's shares were up over 1%, broadly in line with the OMXC25 in Copenhagen.

In a statement issued in the morning, the group known for its rings and bracelets for women reported a "solid" Q4, which resulted in record sales over the last three months of the year.

As a result, like-for-like sales growth was 23% on a preliminary basis for FY 2021, compared to a target of 18% to 20%.

Its Ebit margin is estimated at around 25%, slightly above the group's target range of 24% to 24.5%.

Pandora, whose share price rose by 21% last year, plans to publish its final Q4 results on 9 February.

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