News: Specialty Fashion swings to profit

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Specialty Fashion Group Limited (ASX:SFH) has swung to a full year net profit of $13 million, a significant turnaround on the net loss of $2.8 million last year.  

 

Specialty Fashion's revenue was $569.5 million in the year, down 0.5 per cent from last year’s result.

 

CEO Gary Perlstein says the profit growth was due in large part to significant operating enhancements that drove a record gross margin.

 

The retailer remains cautious about the extent of future organic growth given the lack of consumer confidence.

 

The group will pay a final dividend of two cents per share fully franked.