SYDNEY: OrotonGroup has reported net profit after tax of $19.4 million for fiscal 2009, up 16.1 per cent on the previous year.
Overall revenue increased 10.6 per cent to $135.6 million for the year ended July 25, up from $122.6 million in 2008. Like for like store sales for the group increased by eight percent for the period.
Brands under the OrotonGroup are accessories label Oroton and sport inspired apparel label Polo Ralph Lauren.
OrotonGroup chief executive officer Sally Macdonald said that despite the challenging economic environment the group had performed well. In the year ahead she said the company would seek growth opportunities in regard to domestic stores, product categories and new geographies. Four new Oroton stores are scheduled to open.
In the last financial year, 13 new stores were opened for the group including nine for the Oroton label and four for Polo Ralph Lauren, which comprised ten retail, one concession and two factory outlets. Two stores were closed.
For Polo Ralph Lauren, a renewed licensing agreement is due to be signed for the brand in coming months, as the current licence with Polo is due to expire in June 2010. The company also planned to upgrade several Melbourne stores.