Premier Investments is plotting an abroad growth for its Peter Alexander and Smiggle manufacturers after a report first half.
The corporate, which can be behind the Dotti, Jacqui E, Simply Denims, Jay Jays and Portmans attire manufacturers introduced on Monday it had made a web revenue after tax of $174.three million for the 26 weeks to January 28, up 6.5 p.c from a yr in the past and up 75 p.c from 2020.
Gross sales lifted 17.6 p.c from a yr in the past to $905.2m, with Peter Alexander gross sales up 15.1 p.c to $261.7m.
Premier’s 5 attire manufacturers delivered $452.8m in gross sales, up 14.three per cent from a yr in the past, whereas Smiggle had gross sales of $190.7m, up 30.three per cent.
“Our groups have executed strongly to help the supply of report ends in an unsure financial setting,” stated chairman Solomon Lew.
Premier stated it has recognized 20 to 30 new areas for brand new or bigger shops for Peter Alexander and was finalizing an settlement with a world e-commerce platform supplier to launch the model in 35 international locations.
“Peter Alexander has a runway for future progress,” the Premier stated.
It was additionally taking a look at growing its Smiggle line of kids’s faculty accent shops by 10 to 15 p.c, or round 30 extra shops.
Within the medium time period it’s taking a look at growth within the Center East, Indonesia and Thailand via a capital gentle technique with long-term companions.
Premier stated that its on-line gross sales have been 18.9 p.c of all gross sales, at $170.9m.
Premier closed the half-year with $470.four million money in hand, and stated it will hike its dividend 17.four p.c to 54c in addition to pay a particular dividend of 16c. Each are absolutely franked.
The dividends will price the corporate $111.4m, leaving Premier with a robust steadiness sheet to pursue potential acquisitions, one thing it indicated it was contemplating.
Because the half-year ended Premier has additionally upped its stake in Myer, which it now owns barely greater than 1 / 4 of.
Premier stated it had begun the second half strongly, with world gross sales up 7.7 p.c for its first six weeks, in comparison with a yr in the past.
E&P Monetary retail analyst Phillip Kimber stated in a notice that the outcomes have been general higher than consensus expectations, and so have been the preliminary second-half gross sales.
However at 2.21pm AEDT, Premier shares have been down 1.5 per cent to $24.95.
