>>
Rewind 2021 and prospects for 2022 Rewind 2021 and prospects for 2022
Home / Knowledge / News / Fashion / Employees & due diligence costs hit retailer COLORADO's profits

Employees & due diligence costs hit retailer COLORADO's profits

23
Mar '06
National footwear and apparel vendor and trader COLORADO group announced that it had achieved earnings before interest and tax (EBIT) of $48.4 million for the year ended 28 January 2006 (2004/5: $62.1 million).

COLORADO's net profit after tax (NPAT) decreased 19 per cent on the previous corresponding period to $35.6 million (2005: $44.0 million) on group sales revenues of $466.0 million – down 1 per cent on the 2004/5 result of $468.9 million. The 2005/6 result includes the profit on sale of the Group's Melbourne office building ($5.0 million before tax).

The Board has declared a fully franked final dividend for 2005/6 of 18.0 cents per share, bringing the total payout for the year to 64.0 cents – an increase of 40.0 cents per share over last year. The increased dividend is attributable to the Board's decision during the year to declare a 40 cent fullyfranked special dividend as a capital management initiative.

The Company cited a prior year change from retail to cost accounting and one-off currency benefit, the expensing of employee shares and some unusual one-off costs including legal and due diligence costs in the current year as contributing factors for the decline in profits.

COLORADO group Chairman Mr Bill Gibson said 2005 had been a challenging year for the Company, given the subdued level of consumer spending and high level of competitor discounting in the market.

“In these difficult retail conditions, flaws in the execution of our strategy were exacerbated which contributed to the decline in profits,” Mr Gibson said.


Must ReadView All

Pic: Shutterstock

Textiles | On 28th Jan 2022

Real US GDP rose at 6.9% annual rate in Q4 2021: BEA

Real US gross domestic product (GDP) increased at an annual rate of...

Pic: Shutterstock

Apparel/Garments | On 28th Jan 2022

Egypt’s garment exports rise by 41% to $2.49 bn in 2021 over 2020

The Egyptian apparel sector’s exports rose by 41 per cent in 2021 to...

Pic: Prasit Rodphan | Dreamstime.com

Textiles | On 28th Jan 2022

Cambodia-Vietnam trade volume touches $9.3 bn in 2021

Cambodia-Vietnam trade volume touched $9.3 billion last year—a rise...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Dhiraj Shah,

Dhiraj Shah

The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), set...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Serkan Gogus, Mogul Nonwovens

Serkan Gogus
Mogul Nonwovens

Mogul is a global player ranked among the top 40 nonwoven producers in the ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Ester Kubisz, Label - Ester Kubisz

Ester Kubisz
Label - Ester Kubisz

Ester Kubisz, a London-based designer and founder of her eponymous label,...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

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

ESTEEMED CLIENTS

Reiter India Private Limited
Landmark Group
Permoda(Koaj/Armi/Pronto/Bkul)
Hela Clothing Pvt Ltd
Green Fibre
Etam Group Strategy Hong Kong Limited
Abit
Vardhman Textile Ltd
Cat Tuong Real Estate Group Joint Stock Company
Under Armour Global Sourcing Ltd
Esprit Europe Services GmbH
Brandix Lanka Limited
TESCO INTERNATIONAL SOURCING LIMITED
Guess Europe Sagl,
Lisa S.P.A.
Lenzing Aktiengesellschaft
Grasim Industries Limited
Bluestem Global Sourcing Limited
The LYCRA Company Singapore  Pte. Ltd
Asos
IKEA of Sweden AB
Tchibo GmbH
Seasalt Limited
Boardriders Asia Sourcing Limited
Huntsman (Singapore) Pte Ltd
IDH – The Sustainable Trade Initiative
Page Industries Limited (Bangalore)
Walmart
International Textile Manufacturers Federation
Gap International Sourcing Limited
Midas Clothing Limited
SYNERGIES HONG KONG LIMITED
Restoque S.A.
The Top Form Brassiere Manufacturing Company Limited
Lacoste (Wanchai)
Sainsbury's Argos Asia Limited
Varner AS Retail
Gatsby Africa
Helly Hansen Far East Ltd
Eastman Chemical Company
Sportswear Company Spa
Truetzschler India Private Limited
Tory Burch Hong Kong Ltd
G-Star Raw C.V.
KAS Direct Sourcing
KIABI
Alison Hayes Romania
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Gloria Jeans
Babyshop
Amazon China
OVS Hong Kong Sourcing Ltd.
Groz-Beckert East Asia LLP
Maceton Limited
Benetton Group
Puma
Aramark Uniform ;& Career Apparel, LLC
Sateri (Jiujiang) Fiber Co.,Ltd
J ;& P Coats
Tommy Hilfiger
BIANCA
Alix Partners
Sportmaster Ltd.
Aquarelle Clothing Limited
Desigual - ABASIC, S.A.
PVH Corporation
T.T. Limited
Rayonese Textile Inc., Division de Culp Inc.
Chori Company Limited
SHAHI Exports Pvt Ltd
Target Corporation (MN)
Hirdaramani International Export Private Limited
Splash
LC Waikiki
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Lululemon Athletica Inc
Vianney Textil Hogar S.A. De C.V.
NITI Aayog
THE BOMBAY DYEING ;& MFG.CO. LTD
Decathlon
Arvind Limited
C;&A Sourcing International Ltd
BIMBA ;& LOLA SL
Gokaldas Exports Limited
Calvin Klein
MAS Active / MAS Kreeda / MAS Bodyline
Phong Phu international JSC (PPJ)
Chico’ FAS
H;&M Hennes ;& Mauritz (Far East) Ltd
John Varvatos

January 2022

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


Advanced Search