Gazal's Bisley Workwear business perks up

26 Aug '11

4 min read

Divesting of these non-core assets will result in fewer businesses and a simpler structure going forward, which will allow management to focus their efforts on driving further growth from our core continuing operations which grew at 16.4% this year.

Dividend
The directors declared a final dividend of 7 cents per share fully franked compared to the 2010 financial year final dividend of 7 cents per share fully franked. This takes total dividends for the 2011 financial year to 13 cents per share fully franked compared to 11 cents per share fully franked for the previous year, an increase of 18%. The record date for determining shareholder's entitlement for the final dividend is 7th September, 2011 and the final dividend is payable on 3rd October, 2011. The Dividend Reinvestment Plan will not apply to the final dividend.

Outlook
General trading conditions remain challenging and we expect that these conditions will continue for at least the first half of the 2012 financial year. It is too early to make any predictions in relation to earnings for the new year however we expect to be able to update shareholders at the Annual General Meeting in November 2011.

Based in Sydney and listed on the Australian Stock Exchange, Gazal is a leading apparel supplier and retailer of intimate apparel, business attire, workwear and schoolwear sold under licensed and company own brand names such as Calvin Klein, Lovable, Nancy Ganz, Hold Me Tight, Van Heusen, Bisley, Bracks and Midford.

Gazal Corporation Limited

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