WeSC has basined new confidence. The rights issue resulted in 46.2 million SEK.
“Our saving program gives us a better result already this autumn,” said CEO Johan Heijbel.
The rights issue was fully subscribed, thereby increasing the number of shares from 18,465,260 to 41,546,835 and the share capital increase by 1,668 949.72 SEK to 3755 136.87 SEK.
“The company’s liquidity situation has had a significant impact on the WeSC’s sales and earnings. The new issue is now complete and will free up resources while we can put more focus on the long term business strategy”, Johan Heijbel comments
“While we have worked with the equity issue, we have developed and presented a new strategy for future operations, and also unveiled a first collection that is based on our revised product strategy. Collection has in recent weeks been presented to our distributors as well as at trade shows in Europe and the U.S. and has been very well received.”
He mentions that Sportswear International, WeSC’s womenswear collection, was named “Best Women’s Collection” at the Bread & Butter trade show in Berlin.
“We have conducted extensive savings with regard to fixed costs, combined with a review of the production and distribution processes, means that we can now look ahead to 2015 with considerable confidence. This means that we still believe in profitability for the full year 2015, and already in autumn sees improved results as a result of cost savings, “says WeSC CEO Johan Heijbel.