The PAS Group has revealed that its forecast for the FY2018 full year EBITDA will be between $10 million and $13 million inclusive of an investment in new business of $0.8 million.
The reported EBIDTA represents a significant drop from FY2017 where the group reported an EBITDA of $18.8 million in its yearly results.
The group attributed this drop to an ongoing subdued consumer sentiment, industry wide traffic headwinds and an elevated promotional environment.
The group also announced its signing of a licensing deal with global brand Russell Athletic through its Designworks division with the division launching the brand at specialty sport and lifestyle retail stores from 2019 onwards.
Other recently announced new businesses include a licensing deal with Lonsdale and the women's Mix program with Coles Supermarkets.
Designworks also intends to launch women's footwear in H1 FY2019 as a compliment to its existing apparel and accessories business.
PAS Group revealed that once their new businesses are fully operational, sales related to the businesses are expected to be between $35 million and $40 million per year with the group investing upfront in infrastucture to support execution and delivery.