Hohner Announces Continued Growth
The 99th Shareholder Meeting of Matth. Hohner AG took place on Novermber 27 in the Dr. Ernst – Hohner Concert Hall in Trossingen, Germany.
It was reported that, during the fiscal year ending March 31, while the global economy and music industry grew by approximately 3%, sales growth of the Hohner Group’́s international brands posted a 5% increase versus prior year results. This sales increase was driven by growth in North America (+9.7%), Asia (+21.9%), and South and Central America (+34.4%) partially offset by a 4.5% decline in sales to Europe, the company’s largest market. As a result of the positive sales improvement as well as effective cost management, the Hohner Group improved its net income performance by 83.2% to 2.7 million Euro (roughly $3.5 million) in the fiscal year ending March 31, 2012 compared to 1.5 million Euro (roughly $1.94 million) in the prior fiscal year.
As a result of the overall improved profitability of the company, the Supervisory Board and the Management Board are proposing a dividend payment for the fiscal year 2011/2012 of 11 cents per share.