(Repeats to detach from text of earlier story)
* 2013 EBITDA margin widens by more than 28 percent
* Shares rise 4.5 percent at 0822 GMT
COPENHAGEN, Jan 17 Danish jewellery maker and
retailer Pandora reported better than previously
expected sales and profits on Friday, which it said was due to
good Christmas sales and a faster pace of store openings.
According to preliminary results, revenue for the year was
up by 35 percent at around 9 billion Danish crowns ($1.64
billion), improving on a previous forecast of around 8.6 billion
"Following a strong finish to the year, with better than
expected Christmas sales, we will end 2013 with around 35
percent revenue growth and a substantial increase in
profitability compared to 2012," Chief Executive Allan Leighton
said in a statement.
Profits were even better as it said the margin for earnings
before interest, tax, depreciation and amortisation was around
32 percent instead of the expected 30 percent and up more than
28 percent compared to last year.
"An upgrade was expected, but this is significantly better
than expected. Revenue in the fourth quarter is 200 million
crowns better than we expected," analyst Jesper Christensen of
Alm. Brand Markets said.
Pandora's revenue for the fourth quarter of 2013 was up 27
percent on a year ago at around 2.8 billion Danish crowns while
the EBITDA margin improved to around 33 percent from 24.6
percent in the same period last year.
Pandora's full results are due to be announced on February
($1=5.4861 Danish crowns)
(Reporting by Shida Chayesteh and Stine Jacobsen; Editing by