Samsonite Full-Year Profit Surges

reported a 5.8% rise in its net profit for 2014. Samsonite's net profit for the year climbed to $186.3 million, versus a year-ago profit of $176.1 million. Its adjusted net income gained to US$206.3 million. Basic EPS rose to US$0.132 for the year, versus US$0.125 for the prior year. Adjusted basic EPS jumped to US$0.147 from US$0.134. Its net sales surged 15.4% to $2.35 billion, while adjusted earnings before interest, taxes, depreciation, and amortization jumped 13.8% to $384.3 million. Constant currency net sales of the American Tourister brand climbed 19% y/y, while sales of High Sierra brand jumped 24.9% year-over-year on a constant currency basis. Constant currency net sales for Samsonite brand rose 10.2%, while sales of Hartmann brand jumped 10.3% on a constant currency basis. Group's net sales in Asia rose 16.1% to US$892.3 million for the year, while net sales in North America jumped 22.4% to US$761.3 million. Net sales in Europe climbed 8.3% to US$557.9 million for the year, while sales in Latin America surged 5.7% to US$130.6 million. Mr. Ramesh Tainwala, Chief Executive Officer, added, "We are pleased to report another outstanding set of results for the fifth year running, reflecting the consistent and successful execution of Samsonite's growth strategy. Our business grew nicely across all geographies, brands and product categories in 2014, which is a testament to our ability to deliver best in class products catering to the needs of consumers in individual markets. The Group's strong performance also demonstrates the resilience of the multi-brand, multi-category and multi-channel model we have established over the last few years as part of our aim to strategically diversify the business."