FORUS RESULTS FOR THE 4TH QUARTER 2014 WITH NO SURPRISES

The retailer reported results broadly in line with what analysts expected.

Forus sales were positive note for the fourth quarter, as they were 10% above what analysts were expecting.

The retailer reported revenues of $63,160 million for the fourth quarter, while net profit was well near the forecasts collected by El Mercurio Investments, adding $ 8,974 millions.

Earnings before interest, taxes, depreciation and amortization (Ebitda, a measure of operating performance of a company), was $ 12.193 million, slightly higher than forecast.

Higher margin in 2014

Forus reported a profit of $ 37.508 million, for the entire 2014 just shy of 2013. But sales were strong.

“The sales revenue of the Company grew from the previous year, at $ 40,575,000, representing a positive change of 20.95%, while cost of sales increased by 29.94%, which leads to the gross margin showing an increase of 14.44%, “it said.

It added that Forus managed to stand on comparable sales (stores open at least 13 months, known as Same Store Sales). “We managed to developed a set of strategies that allowed us to achieve same store growth over the industry growth. The drivers of this growth were our brands and making shopping experience special for our consumers in our stores” they said.