This is a very strong result given the weakening retail environment. Rev up 11% and profit up 25%. Forecasting continued Rev growth but slowing profit growth. Looks like they are making investments in UK/Europe and the US in FXD and Salty Crew being rolled out in both regions. Very impressive with a 6 cent div. I think they are just being cautious with their full year forecast and expect it to be higher than PY with a final Div of 7 cents. Still very strong growth potential with lots of upside to the SP.
GLB Price at posting:
$2.29 Sentiment: Buy Disclosure: Held
