OrotonGroup Limited
(ASX:ORL) says EBIT for the financial year is expected to be about $40 million, citing a softer than expected second half amid a challenging retail environment.
Despite the disappointing trading conditions, the high-end brand has a positive outlook for the year ahead, saying it’s on the acquisition path and plans to open its first store in mainland China by September this year.
Oroton says it has a strong balance sheet and cash flow to support growth plans and potential capital management opportunities.
The net cash position for the group is about $23 million.
A full year dividend of 50 cents per share is tipped.
OrotonGroup generated a net profit of $16.4 million in the first half of fiscal 2013.
