Womens apparel retailer Specialty Fashion Group Ltd
(ASX:SFH) has reported an 11.5% increase in sales for the half year to December 31, 2009 to $318 million.
The company says comparable store sales grew 8.9% for the half year reflecting strong sales for the period, although discounting was high in December due to tough Christmas trading conditions.
The company says it now expects profit before income tax for the first half of fiscal 2010 to be in the range of $37 million and $39 million, up from previous guidance of between $24 million and $30 million.
CEO Gary Perlstein says the company is very pleased with its performance in the first half of fiscal 2010, however he says Christmas trading was more challenging than in 2008, with the discounting in the market being more aggressive than in previous years.
Specialty Fashion Group reported net profit after tax of $22.56 million.
