MELBOURNE: Beyond Sportswear International (BSI) is reassessing its business having defied the economic challenges of the first half of FY09 to post improved profits.
The sportswear specialist, whose stable includes the Kea and Kombat labels, posted profit before income and tax (PBIT) of $1,698,000 for the six months ending December 31 2008, compared to $1,062,000 in the previous corresponding period.
In a statement released to the stock exchange last Friday, February 27, the company also confirmed it had reviewed a number of its underperforming licenses and event properties with a view to non-renewal or termination by June 2009. These include Hummel, SuperLeague (Europe), Women's Soccer, Suncorp Stadium, World Cup Rugby and Cricket properties.
Going forward it would increasingly focus on high profile events with a strong profit potential, such as the Olympic Games.
An ongoing focus on the schools and sporting clubs sector also promised to drive profitability for the group, the statement said.