Gabriel Holding A/S (CPH:GABR) on Thursday reported profit before tax of DKK14.2m for the first quarter of the financial year 2017/18 .

This was a 49% increase as compared with profit before tax of DKK9.5m in Q1 2016/17.

Operating profit (EBIT) for the quarter increased by 64% to DKK13.7m, as compared with DKK8.4m in Q1 2016/17.

Revenues for the quarter increased by 24% to DKK144.7m, as compared with DKK117.0m in Q1 2016/17. Reportedly, this increase in revenues is a result of growth on the main markets and in all business units.

The company provided expectations for the 2017/18 financial year and expects growth in revenues and earnings for the full year to get close to 15% in the range of 10% to 15% stated in the annual report. This is as a result of revenues and earnings realised for the quarter exceed management's expectations.

Gabriel Holding develops, manufactures, and sells furniture fabrics of pure wool and micro fibres, and related textile products. The company's product line includes fabrics for upholstered furniture, as well as for office, theatre, hospital, and hotel furniture, as well as furnishing fabrics for trains, ships, cars and buses.

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