Pandora: record sales, share buybacks
(CercleFinance.com) - Danish jeweller Pandora announced on Wednesday record sales for the fourth quarter and launched a new share buyback program.
The share price jumped more than 6% after these announcements, making it the biggest riser on the OMXC25, the Copenhagen Stock Exchange's flagship index.
The group, known for its bracelets, this morning reported sales of more than nine billion Danish kronor for the last 3 months of the year, compared to 7.9 billion a year earlier.
On an organic basis, its growth in the last quarter of the year was 10%, bringing FY growth to 23%.
For 2022, Pandora says it is looking for organic growth of between 3% and 6%, with an operating margin target of between 25% and 25.5%.
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