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Premier Investments Limited (ASX:PMV) has stitched up a stronger profit in the first half of the 2014 financial year and flagged more store openings in high value locations.
Solomon Lew's clothing group increased its interim net profit by 12 per cent to $52 million in the same period revenue grew 3.7 per cent to $477 million.
Retail sales rose 5.3 per cent, aided by growth in its brands including Peter Alexander, Smiggle, Dotti, Portmans, Jacqui E, Just Jeans and Jay Jays.
Chairman Mr Lew says the company continues to focus on transforming Premier Retail’s portfolio through core business improvement and growth initiatives.
Mr Lew remains confident unlocking the value of uniquely positioned brands such as Peter Alexander and Smiggle will continue to deliver shareholders returns.
A fully-franked interim dividend of 20 cents per share has been declared.
(20min delay)