Finnish auction house forecasts profit leap

SANDY PARKER REPORT, VOL. 30, ISSUE 26, SEPT. 4, 2006
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.
Subscribe now and receive all the latest news, either in print or electronically. Just $150 a year for 48 issues! Sandy Parker Reports, 21219 Lago Circle, Boca Raton, FL 33433; Tel: (561) 477-3764; Fax: (561) 862-7052; SParker@SandyParker.com; www.sandyparker.com
International Fur News
with Sandy Parker
Finnish auction house forecasts profit leap
FINNISH FUR SALES PREDICTS ITS RESULTS FOR THE FISCAL YEAR ended Aug. 31 “will clearly outperform” those of the previous period. The company’s forecast was based on the interim report for the nine-month period from Sept. 1, 2005, to May 31, during which the value of sales increased 32% to 285.8 million euros ($363 million at 1 euro = $1.27). There was one fewer auction than in the previous year, but there were more pelts offered and prices were significantly higher. For the full year, the total number of skins sold will increase to 8.7 million from 7.9 million and the value of those sales will be almost EUR 407 million, compared with EUR 297 million, a gain of 37%.
The company showed an operating profit of EUR 2.1 million for the nine-month period, compared with a loss of EUR 900,000. Its net profit went up 13% to EUR 1.8 million, or EUR 0.79 per share. Not included in that period was this year’s June sale, which offered more skins and brought higher prices than last year’s June auction. As a result, that sale realized EUR 121.1 million, an increase of 51%.
KOPENHAGEN FUR EXPECTS TO OFFER 6% MORE MINK in the coming season than it did in the past year. Most of the increase will be in the cross types, pearl, white and silverblue categories, which reflects preferences by the important Far Eastern and Russian buyers. At the same time, however, this will mean a cutback in the supply of mahogany, brown and glow types. The total mink offering next season is projected at 16.1 million pelts, broken down as follows: Dec. 13-15, 2006, 1.2 million; Feb. 4-7, 2007, 3 million; April 16-20, 4 million; June 11-15, 4 million, and Aug. 30 – Sept. 4, 3.9 million.
IN THIS ISSUE:
August Retail Sales on Par
Sheared Mink Called Favorite
Wholesale Markets Still Quiet
U.S. Consumer Confidence Down
Danes to Offer 6% More Mink
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
-
For further information contact Fur Commission USA.
Home
© 1998-2011 Fur Commission USA