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Just Group foresees improvement in its net profit
03
Aug '10
Aiming to experience at least 22 percent improvement, i.e. to garner US $73 million net profit, in the year 2010-11, following challenging conditions during 2009-10, Premier Investments foresees underlying earnings at its Just Group, an Australian garment business group.

Continues increase in interest rates had lowered down the confidence of consumers and discretionary spending in 2009-10. Earnings of Just Group before interest, tax and amortization were anticipated to be between $100 million and $110 million for the year to finish at July 25, 2011.

This anticipation is quite higher than the estimates were drawn in the year just ended, which were $82 million to $86 million, said the company. The retail scenario has been challenging, especially during the second half of 2009-10.

Retail trading has been showing tremendous instability. Not any sustained improvement has been seen during this fourth quarter, alike the fourth quarter of 2008-09, despite few signs of improvement during this quarter.

Fibre2Fashion News Desk - India

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