Jimmy Choo Achieved Expected Share Price Up 14%

British luxury

Jimmy Choo PLC said at the annual general meeting on Wednesday, 15, that the current 2016 fiscal year has made a good start and sales performance is in line with group expectations.

The group's share price rose by 15.48% to 111.08 pence this Wednesday and rose 3.39% to 112.90 pence by Thursday.

In the performance update yesterday, Jimmy Choo PLC chairman Peter Harf said that even in the growth of the Asian market group, which is difficult for the luxury goods companies to do business, the brand awareness has continued to rise strongly, especially in the low penetration of the Chinese market.

Investment bank Liberum Capital Ltd. was subsequently raised.

PLC's stock rating is raised from "holding" to "buying".

The bank pointed out that as of Tuesday, Jimmy Choo PLC (CHOO.L) had fallen by 30% this year, and it was even more sharp 20% in the past two weeks, indicating that although the group's sales were not as crowded as luxury goods, it was still oversold.

The bank maintains a target price of Jimmy Choo PLC (CHOO.L) 135 pence, which is 17% higher than that on Wednesday.

Jimmy Choo PLC 3 did not provide performance expectations this year when it released its 2015 fiscal year report.

The market expects its pre tax profit in the current fiscal year to be 32 million, which means it will improve further than last year.

The group, with its expansion in new stores and strong performance in Asia (sales rose 20.1%), has driven a healthy growth in revenue to turn it around.

The group achieved a pre tax profit of 22 million 100 thousand pounds throughout the year, while it lost 8 million 200 thousand pounds a year before tax.

Net profit also improved to -1080 from 19 million 400 thousand pounds in the previous year.

The adjusted core profit of EBITDA was 51 million, an increase of 1.5% over the previous year's 50 million 200 thousand.

Revenue rose 6.1% to 317 million 900 thousand pounds, 2014 in fiscal year 299 million 700 thousand, and 7.2% in fixed exchange rates.

Fixed exchange rate retail revenue grew by 8.7% to 207 million 700 thousand pounds per year, while sales in the same store recorded an increase of 1.1%.

Last year, Jimmy Choo PLC added 16 Direct stores, which accounted for almost half of the new stores in China.

In the context of China's opening up shop, brave expansion.

It was 62.7%, 90 basis points higher than the previous year.

The Group expects profit margins to continue to improve this year on Wednesday.