U10registered revenue growth of 2% in Q1 2016 for the Home segment.
As previously announced, the Asia division is shifting into markets that will offer higher profitability with the launchof a new subsidiary, U10 Hong-Kong.
Revenue
In Europe, revenue of the Home division rose 2% to €33m in Q1 2016. An analysis of sales points to an outlook for solid growth in 2016.
In Asia, sales declined 31.3% following the discontinuation of part of the basic Trading activity without added value, as announced, in order to improve operating margins. Not yet benefiting from U10 Hong Kong's export sales, revenue came to €14.2m in Q1 2016.
After taking into account Undergarments which accounts for only 10% of total revenue (-7%), sales at the end of March amounted to €52.6m.
Outlook
In response to growing demand by central buying offices and international importers, since January U10 Hong Kong's offering has brought together products of the HOMEAbrand and HomeEuropean collections for export on a direct container basis from Asia.
U10 Hong Kong is currently in avery positive start up phase with the first deliveries at the end of 2016 and on a full-year basis starting in 2017.
U10 expects an excellent year in 2016, with growth in operating profitability and confirms its objective to become a pure player international supplier of home decoration articles.
U10 is a creator, supplier and provider of logistics services in the universe of decoration.
Euroclear: 7914 - ISIN FR0000079147
Contact: Next financial press release:
Patricia Michel - Finance Manager Q2 2016 revenue
Tel: +33 (0)4 37 64 47 85 27 July 2016 after the close of trading
finances@u10.fr
U10 SA published this content on 27 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 May 2016 08:37:09 UTC.
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Since 1994, U10 Corp has been a BtoB supplier of home furnishings, delivering to its customers' points of sale in more than 50 countries.
In Europe, U10 Corp is a permanent supplier to the retail sector, mainly for household linen, pet supplies, bathroom accessories, household and storage accessories. Through its "Douceur d'intérieur", "Love Story" and "Homéa" brands, the collection represents 20,000 items in 15 universes delivered to over 5,000 addresses throughout the year.
Through its Asia division, U10 Corp organizes, monitors and controls production and product quality for its own imports and for its customers.
Overall, more than 300 employees, a 45-strong sales force, a portfolio of services focused on customer needs and performance, demanding logistics and supply chain management, and a product offering tailored to demand are the essential attributes of U10 Corp to meet these needs.