Clas Ohlson shares plunge almost 10 percent after annual report with new financial targets

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Clas Ohlson shares plunge almost 10 percent after annual report with new financial targets
Photo: Adam Ihse / TT

"As we look ahead, we see that many external factors will likely continue to be challenging. Increased material costs, freight prices and uncertainty about customers' willingness and ability to spend are some of the concerns we can see going forward," writes Clas Ohlson's CEO, Kristofer Tonström, in a comment in the financial statements.

In its new financial goals, Clas Ohlson is aiming for sales growth of 5 percent per year over the next three years, with an operating margin of around 12 percent.

The dividend over the years must be at least 50 percent of the profit after tax.

For the financial year ending in April, Clas Ohlson's board of directors proposes a total dividend of SEK 14 per share, of which SEK 4.75 is an "extra dividend".

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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