Specialty Fashion Group Limited
(ASX:SFH) has swung to a full year net profit of $13 million, a significant turnaround on the net loss of $2.8 million last year.
Specialty Fashion's revenue was $569.5 million in the year, down 0.5 per cent from last year’s result.
CEO Gary Perlstein says the profit growth was due in large part to significant operating enhancements that drove a record gross margin.
The retailer remains cautious about the extent of future organic growth given the lack of consumer confidence.
The group will pay a final dividend of two cents per share fully franked.
