Retailer Country Road Ltd
(ASX:CTY) says it expects profit before tax for the full year to June 30 to increase by up to 56 per cent from the year before.
The company says thanks to a pleasing second half trading performance it now anticipates profit of between $21.3 million and $21.8 million for the 12 months to June 30, up from $14 million a year ago.
Sales for the second half rose 16.8 per cent and 18.4 per cent for the full year.
CEO Ian Moir says it has been an outstanding year for the business despite very difficult trading conditions.
Mr Moir says Country Road is well placed and on schedule for the launch of the company’s new brand Trenery in South Africa in early August and in Australia where the company will open five stores in September and a sixth in November.
Looking back over the past five years, Country Road’s profit highlight was in 2007.
