Bata posts gross turnover of Rs 8907.9mn in 2007

Bata achieves a gross turnover of Rs 8907.9 million in 2007 as compared to Rs 7948.2 million in 2006, which is a growth of 12.1%. The Company has made a Profit Before Tax of Rs 551.5 Million in the year 2007. Profits of 2006 included Rs 171.3 million from one time exceptional items.
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Jun 20, 2008, 03.12 PM | Source: Moneycontrol.com

Bata posts gross turnover of Rs 8907.9mn in 2007

Bata achieves a gross turnover of Rs 8907.9 million in 2007 as compared to Rs 7948.2 million in 2006, which is a growth of 12.1%. The Company has made a Profit Before Tax of Rs 551.5 Million in the year 2007. Profits of 2006 included Rs 171.3 million from one time exceptional items.

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Bata posts gross turnover of Rs 8907.9mn in 2007

Bata achieves a gross turnover of Rs 8907.9 million in 2007 as compared to Rs 7948.2 million in 2006, which is a growth of 12.1%. The Company has made a Profit Before Tax of Rs 551.5 Million in the year 2007. Profits of 2006 included Rs 171.3 million from one time exceptional items.

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The Annual General Meeting of Bata India Ltd., was held in Kolkata on June 19, 2008 under the chairmanship of Mr. P.M. Sinha. This was a special AGM as Bata celebrated the platinum jubilee of their existence in India. Bata brand has been a household name and one of the most respected brands in India since 1931.

 

Mr. Sinha reiterated that 2007 was another year of strong earnings growth, highlighted by the restructuring and re-engineering initiatives, adopted by the management, and successfully implemented by the employees. The financial results indicate that the company is now on a sustainable growth and profit path.

 

Bata has achieved a Gross Turnover of Rs.8907.9 million in 2007 as compared to Rs. 7948.2 million in 2006, which is a growth of 12.1%.  The Company has made a Profit Before Tax (PBT) of Rs.551.5 Million in the year 2007. Profits of 2006 included Rs.171.3 million from one time exceptional items. Without considering the exceptional items of 2006 there is a growth of 72.1% Profit before tax in the year 2007.

 

In view of the improved performance of the Company, Bata announced a dividend of 15% on equity shares, and an additional dividend of 5% to celebrate the platinum jubilee year of your Companyís presence in India, aggregating to a total dividend of 20%.

 

One of the most significant achievements of the company in 2007 has been successful retail restructuring by implementing forward looking initiatives like investments in large format stores, trendy shoe collections and customer service programs. These initiatives have resulted in a healthy increase of 12.1% in turnover over previous year. Owing to the changing dynamics of the retail scenario in India and in order to stay ahead of competition, Bata has adopted an ambitious strategy of opening 70 stores every year for the next few years. The company has also introduced exclusive Hush Puppies Stores for the first time in India.

 

The Company has engaged managers of high quality and is also giving the best training in India and abroad to its existing managers to excel in this competitive environment.

 

With an aim to offer more choice and in-season designs to its consumers, Bata India introduces new collections on a regular basis. The consumers can choose from a plethora of new designs from India and abroad including Ambassador, Comfit, North Star, Sporty Power with trendy international brands like Marie Claire, Weinbrenner, Hush Puppies and Dr. Schollís.

 

With the rise in disposable income and exposure to international fashion trends, the demand for footwear in the country, particularly ladies footwear is growing. Consumers today are in the lookout for footwear and accessories that are high on the fashion aspect, without compromising on quality. Upwardly mobile youth are spending more on shoes and thrust is on variety and international trends. Professional women are increasingly spending more on footwear and hence the company is focusing on offering fashionable footwear to women at all price points.

  

Sourced From: Corporate Voice|Weber Shandwick

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