Reject Shop warns on H1 profit

Company News

The Reject Shop Limited (ASX:TRS) has warned that results from the first half of 2015 look set to come in below expectations.
 
The discount retailer has updated its net profit outlook to between $12.7 and $13 million with first half sales up 4.4 per cent to $402.2 million on the same period last year.
 
Difficult trading conditions in the first quarter were highlighted at the company’s AGM last year but it was noted that business improved in the three months to December. 
 
Ross Sudano took the role of Managing Director in September last year and says audited results will be released on February 18.
 
The Reject Shop reported a net profit of $14.5 million in the 2014 financial year. 

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