Pandora (PANDY.PK) reported fourth quarter net profit of 2.53 billion Danish kroner compared to 2.36 billion Danish kroner, a year ago. Earnings per share was 29.4 kroner compared to 25.2 kroner.
Fourth quarter revenue was 10.82 billion Danish kroner compared to 9.86 billion Danish kroner, prior year. Pandora delivered organic growth of 12% which comprised of LFL growth of 9% and network expansion of 4%.
Pandora said initial guidance for 2024 is 6-9% organic growth and an EBIT margin around 25%.
Pandora announced a total proposed shareholder distribution of 5.5 billion Danish kroner. This includes a proposed dividend of 18 Danish kroner per share, up from 16 Danish kroner per share last year, and a new share buyback programme of 4.0 billion Danish kroner which will commence on 8 February 2024 and complete no later than 31 January 2025. The company said the purpose of the programme is to reduce the share capital of Pandora and to meet obligations arising from its incentive programmes.
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