Pandora’s worth on the stock market took a big jump Tuesday after reporting surprisingly strong figures for 2014 and pushing up the expectations for 2015 further.
The market value rised almost nine billion DKK the first hours, but the conflict with Jesper “Kasi” Nielsen got a new chapter.
Pandora sent its sales up by 32.5 percent, almost 12 billion DKK, with a 3 billion DKK surplus on the bottom line. This means seventh consecutive quarters where Pandora deliver better than expected.
A distributor agreement in China, share repurchases and a five percent growth in USA together with plans to expand the store network with more than 300 new concept stores in 2015 gives a lot of hope for the future.
There is also a new chapter in the fight between Pandora and Jesper “Kasi” Nielsen about the worth of an earn out agreement for central Europe. Pandora set the worth to nothing, as they did last year while Jesper Nielsen claims 753 million DKK and says in a written answer to Berlingske Tidende that he expects an agreement after getting access to all books and underlying figures.
”I have no doubt that we’ll get what is for us according to our agreement with Pandora, regardless of the antics that are made,” says Jesper Nielsen in a written comment sent via his press officer to Berlingske Business.
Jesper Nielsen Company Kasi Group sold the stake it had in a Pandora subsidiary 2010.