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Pacific Brands lowers H1 earnings forecast

21
Jan '06
Consumer brands managing firm Pacific Brands Limited (Pacific Brands) are still finalizing their half year results.

However, given the recent volatility in the company's share price, Pacific Brands wish to advise that earnings before interest, tax and amortisation (EBITA) for the first half of the 2006 financial year, ending 31 December 2005 is anticipated to be 2-5 percent lower than the EBITA for the previous corresponding half year period.

As stated at the full year results announcement in August 2005, there has been a general weakness in the apparel market, in particular the women's underwear segment and this trend continued in the first half of FY2006 with heavy discounting and an oversupplied market.

Commenting on the results, Chief Executive Officer Paul Moore stated, “Following a difficult first quarter at retail with subdued consumer demand, a stronger November and December than last year, were not enough to make up the earlier shortfall.”

“With strong marketing programmes being implemented in the second half, continued support of our brands and benefits from the acquisitions made in this first half, improvements in the second half are anticipated,” he added.

Pacific Brands manages 'Everyday Essential Brands', marketing some of the most recognized brands across Australia and New Zealand including Actil, Berlei, Bonds, Clarks (children's), Dunlop, Everlast, Grosby, Holeproof, Hush Puppies, KingGee, Sheridan, Slazenger, Sleepmaker and Tontine.

Pacific Brands' commitment to market leadership has provided it with number one or two positions across its major product categories in Australia and New Zealand which include underwear, socks, intimate apparel, hosiery, footwear, bedding, bedding accessories and foams.

Pacific Brands Limited


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