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Delticom's CFO says FY margin target met - paper

Published 02/01/2009, 11:28 AM
Updated 02/01/2009, 11:32 AM
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FRANKFURT Feb 1 (REUTERS) - Internet tyre seller Delticom has achieved its margin goals for the 2008 business year and intends to pay its investors a dividend at least at the previous year's levels, its Chief Financial Officer Frank Schuhardt said in a newspaper interview.

"For 2008 we'll pay out a dividend of at least 2 euros per share," Schuhardt told the Frankfurt Allgemeine Sonntagszeitung in an article released on Sunday.

Delticom, which has been listed on the German small-cap SDAX index since December, should see a profit margin before taxes and interest "at 5 to 6 percent," said Schuhardt, reiterating Delticom's previous target.

Schuhardt said Delticom is profiting from bargain hunting on the Internet and so far has not seen the cutthroat competition facing traditional tyre retailers.

Delticom released preliminary sales data on Friday that showed a 20 percent rise in revenue to 258 million euros ($331.5 million)

(Reporting by Tyler Sitte; Editing by Rupert Winchester)

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