The distributor of ready to wear women Etam Thursday reported a jump in operating profit in the first half, thanks to China, but also an increase in its debt.
The group identified the first six months of the year operating profit of 18.1 million euros, an increase of 175.7% over one year.In Europe, profit improved by 1.5 million to 3.5 million, but China's first regional contributor to operating income, it increased by ten million to 14.6 million.
The turnover of Etam Development has increased in the range from 9.2% to 545.5 million euros, while its net income Group share stood at 7.2 million (235.6 %).
Net debt has dug in contrast to 66.8 million euros compared to the same period last year to $ 179.9 million, an increase qu'Etam considers "limited" in view of setting implemented on June 30 its acquisition of shares for 99.2 million euros.
After taking account of the operation, the ratio of debt to equity stood at 63.0%, against 31.1% a year earlier.
Before the publication of results, action Etam closed up 2.25% to 32.72 euros, giving a market capitalization of approximately 260 million euros. Since the beginning of the year, the stock has taken nearly 80%, after surging more than 150% throughout 2009.