Home / Knowledge / News / Apparel/Garments / Postie Plus reports Q2 half sales
Postie Plus reports Q2 half sales
05
Feb '08
Postie Plus Group Ltd (PPGL) expects a turnaround for the second half after it reports a greater first half loss than for the same period last year.

"It is expected the first half result, to be announced later, will see a loss in the vicinity of $2.8m. With ordinary trading conditions prevailing, we foresee a second half turnaround to show a full year profit after tax of around $2m," the chairman Mr Peter van Rij said.

"PPGL typically faces more challenges in the first half, more so this year when there are a multiplicity of volatile factors that have affected the retail industry. With full stock levels, flat sales and lower margin as a result of difficult trading conditions, the need to clear the excess stock from the previous summer and winter became imperative.

"The clearing of excess stock has been achieved. It has been a difficult 12 months combating the overstock but strict systemic measures are now in place to concentrate on the benefits of lower stock levels for the future."

Other issues that impacted the result were the additional cost of distribution space and freight, interest paid on the increased stock and the cost of moving the Schooltex operations from Westport and Auckland to Christchurch.

"As many of these costs were one off we will get some pick-up in this next half, but more importantly for the group, as previously announced we are expecting to reap more substantial benefits over the next two to three years".


Must ReadView All

Trump signs revised free trade agreement with S Korea

Textiles | On 25th Sep 2018

Trump signs revised free trade agreement with S Korea

President Donald Trump signed a revised free trade agreement with...

L-R: Jonathan Akeroyd, Donatella Versace, John D Idol. Courtesy: Rahi Rezvani

Fashion | On 25th Sep 2018

Michael Kors to acquire Versace; to be renamed Capri

Michael Kors Holdings Limited, a global fashion luxury group, has...

'India can take up lack of capacity in US, China markets'

Textiles | On 25th Sep 2018

'India can take up lack of capacity in US, China markets'

India can now take up the lack of capacity in the US and Chinese...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search