Mr Lane informed that they have restructured the business and revitalised the management team. The year has been characterised by some major challenges to which they have responded with significant changes, which will allow us to manage better all facets of their business. The rebuilding process spans the entire organisation, from lower levels through to senior management team. Encouraging signs are beginning to emerge of the benefits of these changes, but the Group does not expect to capture the full financial benefits until towards the end of FY06.
Key features of the FY05 performance are: • Sales revenue of $147 million, up 3 percent compared to the same period last year • Operating performance affected by supply chain/logistics issues and cost of internal change programmes • Significant organisational and management change implemented, expected to deliver improved business performance in the medium term • Earnings before interest, tax and amortisation (EBITA) of $8.5 million, before significant items • Negative significant items totalling $4.1 million at the EBITA level • Net profit after tax before significant items and goodwill of $5.0 million • Total net profit after tax of $1.0 million • EPS pre-goodwill and significant items of 11.9 cents per share • Fully franked final dividend of 7.5 cents per share, a total of 12.5 cents for the full year
Fashion company The Oroton offers women's Handbags, Men's luggage and Business Accessories, Men's and Women's Small Leather Goods, Eyewear, Lingerie, Men's Underwear, Jewellery, Ties, Leather Ready-To-Wear and Giftable Items.
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