Ann: COMPANY ANNOUNCEMENT - RESULTS YEAR ENDED 30 JUNE 2016-GLB.AX, page-2

Mix of good and bad in this full year results:

Good
Sales brew by 10%
Profits increased.
- introduction of new brands like Sample which is a female clothing brand. Currently thru General Pants. Hope it goes Ok as they need more women's gear.
- FXD is expanding into Europe and US
- Strong growth in apparel in US
- introduced some new brands in Aust with MISFIT and Xlarge
- very strong growth in Aust and paying a Div
- Hard to tell but looks like the US business was almost in the black second half

Bad
- sales in Europe and the US have really tanked with second half looking down over 20% in Local currency. This looks to be mainly due to a transition from hard good sales to footwear and apparel.
- looks like Boy London and Vision were duds and have been dumped.
- strong US$ squeezed margins but not too severe.
- forecast flat for next year but hope to get more info from the AGM.