High quality global journalism requires investment.Please share this article with others using the link below,do not cut & paste the article.See our Ts&Cs and Copyright Policy for more detail.Email ftsales.It to buy additional rights.Shares in Pandora,the jewellery brand famed for its pandora 2015 collection,rose more than 18 per cent on Tuesday after full-year results showed a near 40 per cent increase to net profits,powered by strong US sales and new ring ranges.Pandora's board has proposed a 38 per cent increase to the group’s annual dividend to DKr9 per share,and launched pandora disney charms a DKr3.9bn share buyback programme to be executed this year.
The performance represents a turnround for the Denmark-listed company,whose shares fell nearly 80 per cent in 2011 after a move away from affordable luxury into higher-end designs alienated its core customers.High quality global journalism requires investment.Please share this article with others using the link below,do not cut & paste pandora charms uk the article.See our Ts&Cs and Copyright Policy for more detail.Email ftsales.It to buy additional rights.
The group was forced to melt down unsold high-priced pieces,which it crafted into new,more affordable ranges.However,Tuesday’s full-year results showed a record performance in the fourth quarter of 2014,showing the popularity of its new gift ranges.Allan Leighton,chief executive,said that annual sales of bracelets and charms rose 25 per cent year-on-year,while revenues from ring sales eclipsed DKr1bn for the first time.“The performance in the fourth quarter was our strongest ever and resulted in 2014 being a very successful year for Pandora Essence Charms,”Mr Leighton said.“Again we increased our top line to record high levels,driven by strong growth across all geographies and product groups.”