Apparel group Gazal today released their full year results, showing a sales revenue increase of 16.4 per cent since last financial year.
The company, which owns leading apparel brands including Calvin Klien, Lovable and Crystelle, also reported a 31.5 per cent increase on after-tax profits from continuing operations, which were $10.3 million for the year.
Additional investments in new outlets lead to a sales increase in the direc-to-consumer segment, while cash flows from operating activities were $19.5 million for the year, up from $31.3 million in the previous year.
Proceeds from the sale of Trent Nathan prior to the year end exceeded the book value of related assets including intangibles.
After-tax profits from discontinued operations for the year was $1.0 million.
The company report highlighted that “general trading conditions remain challenging,” and abstained from forecasting figures for the financial year ahead, with a pledge to update shareholders in November.