Despite the challenging economic and retail market conditions throughout the half year, Specialty Fashion Group has been able to turn around its financial performance.
The company confirmed its revenue for the first half of 2012 financial year was $311.2 million and EBITDA of $37.2 million, in line with the results guidance provided on 25 January 2013.
The company also reported a net profit for the half year of $18 million.
According to the company, its success has been driven by its sales growth and margin expansion, largely as a result of aggressive online sales growth, supply chain improvements and minimising inflation costs of doing business.
The owner of brands like Miller and Katies expects to improve its trading performance in the second half of the year in comparison to the same period last year. The strategic initiatives in relation to eCommerce, customer relationship management and the supply chain are expected to continue to be the key drivers of improvement in performance.
However, the company notes it will remain cautious as to the extent to which macroeconomic factors, both in Australia and abroad, may adversely influence consumers’ propensity to spend on discretionary items.