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PAS Group expects profit fall

 

ReviewThe fashion retailer behind the Review and Yarra Trail labels expects its half year profit to fall as market conditions prove tough.

The PAS Group, which also holds licences for brands including Everlast and Slazenger, expects to make a profit of $3.3 million in the six months to December 31, down from $4.9 million in the same period 12 months ago.

It said sales of its key brands had been impacted as market conditions in the retail sector remain more challenging than expected.

PAS Group expects its performance to improve in the second half of the financial year, but said full year earnings are set to fall up to 15 per cent below the forecast provided in its prospectus before its market listing in June.

AAP

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