Pacific Brands raises earnings guidance WENDY PUGH BUSINESS...

Pacific Brands raises earnings guidance

• WENDY PUGH
• BUSINESS SPECTATOR
• JULY 02, 2015 8:57AM

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Boxer shorts from Pacific Brands’ Bonds label on display. Source: Supplied
Pacific Brands has raised its earnings guidance range for the 2015 financial year following a strong performance from its Bonds and Sheridan retail lines and cost control improvements.
The company (PBG) said it expected earnings before interest and tax of $63 million to $65 million, compared to an implied previous outlook of $57.4m to $63m. The forecasts exclude significant items.
Sales are expected to rise around 5.3 per cent versus the prior year and net debt is expected to be cash positive at around $1m, the company said.
Disciplined margin management and cost control and further action on corporate costs following divestments had contributed to the upgrade.
“This has been partially offset by challenges in the discount department store channel,” Pacific Brands said.
The previous outlook was made before the significant May and June trading months.

http://www.theaustralian.com.au/bus...arnings-guidance/story-fn91v9q3-1227424670871