SYDNEY: Gazal Corporation has announced an increase in group sales, but a reduction in profit after tax for the six months to December 31, 2009.
The group sales figure of $129.7 million was up 1.1 per cent on the same period in 2008. After tax profit was $5.2 million, compared with $5.8 million for the same period in 2008, which is a decline of 11.2%.
The company reported that wholesale sales for the group were impacted by a decline in sales to department stores, mainly due to the expiration of the Nautica brand wholesale licence.
It said this was partly offset by growth in market share of the Calvin Klein men’s and women’s underwear business compared to the previous corresponding period.
Gazal Corporation has a portfolio of fashion and underwear brands including Calvin Klein Underwear, Trent Nathan, Lovable, Crystelle, Van Heusen and more.