Shares in OrotonGroup Limited
(ASX:ORL) rose in morning trade after the luxury accessories retailer said its net profit in the 2011 financial year has grown 8 per cent.
OrotonGroup has reported a net profit of $24.8 million, underpinned by a 7 per cent increase in like-for-like sales and a 12 per cent rise in revenue over the year.
CEO Sally Macdonald has advised that sales in the first seven weeks of the company’s new financial year have exceeded expectations.
Looking ahead OrotonGroup is focusing on opening more stores in Asia and Australia and is targeting nine new stores over the next year.
Shares in OrotonGroup were 4.6 per cent higher this morning, trading at $7.50.
A final fully franked dividend of 26 cents per share has been declared.
