Mosaic Brands has fought back against a hit from the bushfire crisis, announcing a 36% increase in earnings to $32 million for the half year.
While revenue for the period plunged 10.9% to $413.8 million - and gross margin declined 6% to $247 million - the retail group traded higher than analyst expectations.
Net profit after tax also continued to rise, up 47.5% on the prior corresponding half to $14.1 million.
The group has a wide range of retail brands including Noni B Group and Ezibuy.
Mosaic Brands MD Scott Evans said he was pleased with the results, depsite a hit from the bushfire crisis.
"We are pleased with the progress we have made during the half year.
‘It is unfortunate that, as announced in our trading update on 14 January 2020, these achievements have been overshadowed in the short term by the tragic bushfires which directly affected 20% or 276 of the group’s stores.
"This impacted overall group performance from November onwards. However, our loyal and skilled team combined with our strategies provide a solid base for further growth to capitalise on our many opportunities."
Mosaic Brands Limited chairman Richard Facioni also praised the result.
"Mosaic Brands’ substantial improvements in margin and EBITDA, notwithstanding the external factors that have affected and continue to affect the group, were a great achievement, demonstrating the group’s resilience and potential when the environment stabilises.
"The group will continue to benefit from its strategy of prioritising gross margin, through cost price improvements and a disciplined approach to discounting.
"The company is well positioned strategically, with a sound balance sheet, first class management team and loyal customers. I am confident our multi-channel strategy will lead to further growth, capturing an increasing proportion of our customers’ share of wallet."