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OrotonGroup has engaged investment bank Moelis & Company to conduct a strategic review of its business.

The move follows a continued decline in earnings, identified at its half year announcement.

At the half year, earnings before interest and tax were down $3.9 million or 44% PCP.

Earnings for fiscal 2017 are now forecast to be approximately $2 million to $3 million.

This is down approximately $10 million on the previous year.

OrotonGroup interim chief Ross Lane said the board acknowledges the current level of profitability is unacceptable.

“Challenging conditions experienced across the retail market in April 2017 with low consumer confidence and a competitive market, has meant the Group’s April mid-season sales were below management’s expectations.

"April is always an important trading month for the quarter."

OrotonGroup operates accessories brand Oroton and the Australian operations of GAP.

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