Monnari revenues up by 10% in 2013

Following a rough couple of years, the Polish fashion retailer Monnari improved its performance in 2013 posting PLN 145.6m in revenues, up 10.4 percent from 2012. The company’s net profit rose 100 percent year-on-year to PLN 17m, paving the way for possible acquisitions this year. Monnari’s gross margin also increased by 56.1 percent last year. The company said it will not pay out dividends for 2013 and instead use the money to push further growth.

Mirosław Misztal, CEO of Monnari Trade, said the improvement is the result of the company’s restructuring process, which was launched last year. He said Monnari has met all the obligations included in the settlement agreement with its creditors.