May 15, 2015 / 6:27 AM / 2 years ago

BRIEF-Feike Q1 net profit up 20.6 pct at 5.3 million euros

May 15 (Reuters) - Feike AG :

* Continues its expansion path and records double-digit growth in the first quarter of 2015

* Q1 rise in EBIT of 20.0 pct to 7.2 million euros ($8.20 million) (Q1 2014: 6.0 million euros)

* Q1 group's gross profit increased by 23.4 pct to 8.8 million euros (Q1 2014: 7.1 million euros)

* Q1 increase in revenue of 29.0 pct to 29.5 million euros(Q1 2014: 22.8 million euros)

* Q1-end increase of cash position by 32.6 pct to 98.0 million euros (Dec. 31, 2014: 74.0 million euros)

* Q1 net profit for period increased by 20.6 pct to 5.3 million euros (Q1 2014: 4.4 million euros)

* There are no material changes regarding company's outlook for financial year 2015 compared to disclosures given in annual report 2014

* Continues to plan a further expansion of its distribution and sales network by increasing number of retail outlets to about 2,500 by end of 2015

* Measured in renminbi, growth of revenue in 2015 is expected to be in range of 4 pct to 6 pct

* Still expecting relatively stable gross and net profit margins and further double-digit growth in revenue in 2015 Source text for Eikon: Further company coverage: ($1 = 0.8785 euros) (Gdynia Newsroom)

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