Financial snapshot: Oroton Group
SYDNEY: OrotonGroup has posted disappointing full year results for the year ended July 30, 2005. Net profit after tax amounted to $5 million, compared to $9.4 million for the same period last year. Total net profit after tax, including significant items, was $1 million. Total group sales for the year were $147.5 million, up three per cent on last year. Retail sales were up eight per cent, however wholesale sales declined by 13 per cent due to supply chain and logistics problems, which resulted in cancelled orders from wholesale customers.
Coles Myer
MELBOURNE: Coles Myer says its trading outlook remains strong however it expects consumer spending to be tighter than last year. The company announced an annual net profit of $624.5 million for 2004/2005, a 1.3 per cent rise on the corresponding period last year. Sales increased by 13.3 per cent to $36.6 billion, with underlying retail earnings before EBIT also jumping 13.3 per cent to $1.15 billion. The company says it remains on track to achieve its $800 million net profit target for 2005/06.
Quiksilver
UNITED STATES: Global surfwear company Quiksilver has posted a third quarter net income of $US24.6 million ($32 million). Revenues increased by 11 per cent to $US373.8 million ($486 million). The company is expecting revenues for the fourth quarter, ending October 31, will be between $US582 million ($756.7 million) and $US592 million ($769.7 million), with full year revenues predicted to be between $US1.73 billion ($2.24 billion) and $US1.74 billion ($2.26 billion).
Hallenstein Glasson
NEW ZEALAND: Fashion retailer Hallenstein Glasson has reported a increase in net profit of 12.4 per cent to $NZ19.29 million for the 12 months ended August 1, 2005. After adjusting a one-off gain on the sale of property, profit from trading rose by 19.5 per cent. In Australia the company posted an after tax profit of $NZ312,000, compared to last year's loss of $NZ261,000.
Miller's Retail
SYDNEY: Fashion and discount retailer Miller's Retail has announced a net loss after tax of $103.4 million for the 12 months ended June 30, 2005. Sales revenue during the period increased only marginally for the company, posting a one per cent increase to $1.12 billion. Whilst the company's apparel like-for-like store sales were up on last year, like-for-like store sales across the group when aggregated with discount variety, were down two per cent. Earnings before EBIT and the write down of intangible assets and restructuring costs were $53.4 million, in line with market guidance.