Jewelry comapny Pandora has reported a 20% year-on-year increase in second quarter revenue to $644.5 million, according to Gem Konnect. Net profit for the quarter rose 34.2% to $181.9 million from the $135.6 million in Q2 2015.
According to CEO Anders Colding Friis, the increase in revenue and profit can be credited to “growth in all regions continued into the second quarter. Europe, the Middle East and Africa (EMEA) and Asia Pacific maintained the strong momentum with double digit revenue growth, driven by positive double digit like-for-like growth and continued improvement of the store network.
Despite the strong performance, however, the company’s stock fell as much as 6.8% on the Copenhagen stock exchange because analysts had expected more.
