Van de Velde NV, has just reported its full year results to year end 31.12.15 showing a rise in turnover and recurring net profit increased by 20.7% (from 198.4 million Euros to 209 million Euros) with a like for like consolidated turnover up by 5.7%. The healthy 6.0% growth in wholesale turnover of lingerie and beachwear was not matched by retail.
Retail turnover at Rigby & Peller (formerly Intimacy) fell by nearly 10% in 2015 but more encouraging the European retail turnover increased by 5.8% (with best growth in Germany 7.1% and the Netherlands 5.7%). The proposed dividend to shareholders will be 3.5 Euros per share.
Departing CEO (EBCVA), Ignace Van Doorselaere, will be leaving at the end of the year to ensure a smooth transition commenting: “I have the utmost confidence in the current strategic course, the 2016 results and the initiatives that have already been prepared for the long-term future of Van de Velde.”