Akademibokhandeln, with subsidiary Bokus, made a strong 2014 and reports a profit of 36.3 million SEK, an improvement of 79.5 million, compared to 2013.
This means the bookstore chain is profitable for the first time since 2007.
Akademibokhandeln and Bokus total sales of books increased by 1.8 percent in a declining market.
” I am extremely proud of what we have accomplished since the merger between Akademibokhandeln and Bokia in January 2013. The goal was to achieve profitability in order to secure the bookshop’s future – and here we are now,” says Maria Hamrefors, CEO.
” There were two heavily bleeding company that merged. We realized that we had to succeed in our turnaround efforts would otherwise store dealers with books virtually disappear,” she tells market.se.
She says cost synergies, increased efficiency and improved customer offering both in-store and online is paying off. Last year, sales of books in physical stores rose by 0.1 percent, compared with an overall market decline of 2.6 percent.
Also, the ecommerce Bokus went from loss to profit last year. Bokus improved its result by 22.5 million to 16.3 million after depreciation. At the same time, sales increased by almost 8 percent.