Pacific Brands Limited posted record sales of A$834.3 million ($627.6 mm) for the fiscal first half, a 4.5% increase over the same period last year. Branded sales increased during the half by 7.0% to A$772.1 million ($580.8 mm), including results from the acquisitions of Sheridan and the Arthur Ellis Bedwares and Everwarm businesses.
Net profit after tax was A$50.7 million ($38.1 mm) for the first half of fiscal 2006, 4.8% down from the net profit posted for the year-ago period. Net profit was impacted by the reduction in EBITA as well as an increase in interest expense as a result of funding the acquisitions. This has resulted in earnings per share of A10.1 cents (7.6 cents).
Net sales for the Outwear & Sport division decreased 1.9% to A$141.6 million ($106.5 mm), largely a result of the transfer of Dunlop Footwear to the Footwear division. Branded sales slipped 0.3% to A$132.3 million ($99.5 mm). Despite the sales decline, EBITA increased 13.2% to A$14.6 million ($106.5 mm). Total sales for the Footwear division increased 4.8% to A$152.1 million ($114.4 mm), while branded sales increased 9.7% to A$132.8 million ($99.9 mm). EBITA jumped 14.3% to A$20.8 million ($15.6 mm) for the half.
