COPENHAGEN: It has been a remarkable year for the Danish discount store chain Tiger. The company’s parent company Zebra A/S released its annual accounts today, showing a record turnover and profit.
The capital fund EQT, which is the ultimate owner of 67 percent of the shares in Tiger, sees an IPO as being the obvious option, Børsen reports. Turnover increased by 44 percent to 2.46 billion kroner, and the pre-tax profit was up 50 percent to 364 million kroner. A total of 122 new stores were opened worldwide and the brand was launched in five new countries.
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Xavier Vidal, the CEO of Tiger, took encouragement from the numbers. “To increase turnover by 44 percent, and at the same time increase the profit margin, is the result of strong teamwork and a testament to the strength of our innovative design and retail concept,” he said.
