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SOURCE Cision AB
STOCKHOLM, Nov. 28, 2017 /PRNewswire/ -- STRAX, the mobile accessory specialist, improves its gross margin and continues to experience strong growth in its targeted international markets, whilst adapting to changing market conditions in Western Europe.
"Our third quarter results were impacted by later than expected launch of iPhone X and weak initial demand for iPhone 8. We still maintain growth compared to last year so far in 2017, and we are experiencing increased demand from most channels and markets in the fourth quarter giving us comfort in an increased growth for the full year 2017. In line with our strategy and expectations, growth in North America and the Middle East continues to be strong with 84% and 42% respectively and an ever-expanding presence of Urbanista and Gear4 across all our markets and channels is encouraging. Our scalable business model continues to prove greater EBITDA growth over sales growth."Gudmundur Palmason, CEO
This information is information that Strax AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on November 28, 2017.
For further information please contact:
CEO, Strax AB
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The following files are available for download:
STRAX: INTERIM REPORT NO 3 FOR THE FINANCIAL YEAR 2017
pr STRAX Q3 2017 Eng
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