Country Road profit update

MELBOURNE: Following its announcement on July 18 of a strong sales performance last year, with total sales up 11 per cent for the second half and 21.9 per cent for the full year, Country Road has now advised it anticipates a materially higher profit before tax than last year for both the second half and full year to June 30 2008.

In a statement released yesterday (July 24) the company confirmed it was now in a position to provide further profit guidance and anticipated that profit before tax for the full year to Jun 30 2008 would increase by between 40 and 50 per cent on last year's profit before tax of $9.2 million.

Full year audited results are scheduled to be released on August 21.