Alain Manoukian posts operating profit

Les Echos – France
Apr 14, 2005

French clothing and footwear chain Alain Manoukian has posted an
operating profit of 0.1m euros for 2004, as well as a reduction in its
net loss to 2.8m euros, from 10.7m euros in 2003. Turnover fell by 8.2
per cent, to 134.3m euros.

The group expects to return to net profit this year, after cutting the
number of its products, reducing the proportion of discount items, and
increasing supplies from China, India and Turkey. Part of the decline
in turnover was the result of the sale of seven loss-making stores in
2004, which is expected to reflect positively on its operating profit
this year. To return to growth, the group aims to expand outside
France, possibly in China, where it has six franchises.