This is how a $203 million acquisition has paid off for a major footwear retail group.
RCG Corporation has bolstered its underlying net profit after tax by 16 per cent to $13.7 million for the financial year.
The group finalised its acquisition of Accent Group in May, adding brands such as Skechers, Vans and Timberland to its portfolio.
Accent Group contributed gross earnings of $3.3 million on sales of $29.5 million.
Like for like sales spiked by 31 per cent and total sales growth exceeded 80 per cent for the 12 months to June 30, 2015.
RCG CEO Hilton Brett said the newly acquired portfolio was a strong performer.
"The ongoing performance of the Accent business is unprecedented in the current retail climate, with over 30 per cent like for like growth over the last 12 months and double digit like for like growth in each of the two years before that."
Earnings before tax grew 24.3 per cent to $8.6 million across the RCG group with total sales up by 35.6 per cent to $63.2 million.
The Athlete's Foot saw like for like sales grow 1.2 per cent with full year earnings of $13.1 million.
“This growth has more than compensated for the lacklustre performance of the Merrell brand, which has been impacted by a lack of innovative lifestyle product," Brett said.
"These issues are being proactively dealt with by Wolverine Worldwide Inc, owner of the Merrell Brand."