• RECESSION BUSTING: Kiwi brand Postie Plus has forecast a modest full year profit after tax.
    RECESSION BUSTING: Kiwi brand Postie Plus has forecast a modest full year profit after tax.
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NEW ZEALAND: Retailer Postie Plus has credited a strong winter for its achievement in lifting its fourth quarter sales 12.9 percent above that for the same period last year.

The listed retail group boosted sales to $NZ34.9 million ($A28.3 million) in the three months ended June 30, 2009 - up from $NZ31 million ($A25 million) in 2008.

The performance of the company, whose brands include Postie+, Baby City and Schooltex, improved in each of the four quarters during the financial year.

In a statement, Postie Plus managing director Ron Boskell said group margins were also rising, and the sales performance was pleasing in light of the recession and strong competition from competitors "scrambling to increase sales at the expense of margin".

Boskell said the increases in sales and margins indicated the company's product range was what the market wanted.

"The success of winter is attributable to amongst other things our new offering, more fashion, better fits and improved quality," he said.

Postie Plus forecast a "modest profit" after tax, with the full year results to be published on September 21.
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