News: Specialty Fashion H1 profit nearly triples

.

Specialty Fashion Group Limited (ASX:SFH) expects to report a net profit of between $17 and $18 million for the six months to the end of December.



This would represent a near tripling of its $6.2 million profit from the corresponding period last year.



CEO Gary Perlstein says the significant turnaround has come on the back of a continued focus on strategies to improve sales, margins and costs.



Mr Perlstein said a major contributor to the profit growth were reductions in product and freight costs stemming from changes in the company’s supply chain.



Specialty Fashion Group reported a $2.8 million loss in the 2012 financial year.