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Mobile & Wireless

Avenir Telecom reports sales down 5.3% in fiscal first half

Tuesday 20 November 2012 | 11:12 CET | News
French-headquartered European mobile phone and accessories distributor Avenir Telecom reported sales down 5.3 percent to EUR 211.2 million in its fiscal first half to the end of September although volumes grew by 3.2 percent to 3.9 million mobiles, accessories and services sold. Avenir's direct distribution business had revenues down 21.2 percent to EUR 95.5 million due to the impact of the difficult economic situation in Spain and more generally by the closure of 30 Internity stores over a year for a base of 526 stores at the end of September. The indirect distribution business increased turnover by 13.7 percent to EUR 115.7 million, driven by the sale of smartphones and accessories. The group reported an operating income down 75.3 percent to EUR 1.8 million and a EUR 500,000 net loss, compared to a EUR 4.3 million net profit in the year-earlier period. Avenir Telecom expects to improve its gross margin in its fiscal year second half thanks to higher sales of subscription plans related to the Christmas offerings of its telecom operator partners in France and Spain, continued sales of smartphones and increased sales of accessories. The company has signed a draft agreement to sell its 38 Ensitel stores in Portugal, which, if completed, is expected to result in a EUR 4.7 million loss of disposal on assets in the full fiscal year, without affecting its cash position.

Categories: Mobile & Wireless
Companies: Avenir Telecom / Internity
Countries: Europe / France
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