SYDNEY: Undercoverwear (UCW) is struggling to maintain its previous trading levels due to tightening economic conditions and difficulty attracting new sales consultants.
The home-selling women's fashion company, which released its half year results yesterday, February 25, confirmed revenue for the six months to December 31 2008 was down 26 per cent on the previous corresponding half, while net profit after tax was down 42 per cent.
The company also confirmed the outlook for the six months to June 2009 would be "very difficult".
However management had addressed the down turn by ensuring its cost structure reflected the slowing economy to be commensurate with revenue.