HAMBURG (dpa-AFX) - Optics group Fielmann has become more profitable in the first half of the year thanks to cost cuts. Based on preliminary figures, the Group expects consolidated sales of 966 million euros for the first six months, 13 percent more than in the same period last year, management announced in Hamburg on Thursday. Accordingly, earnings before interest, taxes, depreciation and amortization (Ebitda) rose more strongly by 21 percent to 207 million euros. This corresponds to an operating margin of 21 percent. A year ago, the margin was 20 percent. The savings program introduced continues to reduce costs and increase profitability, Fielmann said. Earnings before tax (EBT) also increased by 21 per cent to 108 million euros.

The Hamburg-based company confirmed its forecast for the current year. Group sales are expected to grow between 7 and 10 per cent in 2023. In terms of operating profit (Ebitda), the Group is targeting growth of 9 to 21 percent./knd/men