Premier Investments Limited
(ASX:PMV) has reported a net profit fall but underlying profit growth in the full 2014 financial year.
Solomon Lew's clothing group’s net profit dropped 58 per cent to $73 million while its underlying profit rose 10 per cent to $106 million.
The underlying result excludes the one off gain due to the reclassification of kitchen appliance maker Breville Group.
Chairman Mr Lew says the group made a number of major investments over the year to support the forward strategy of Premier Retail in Australia and abroad.
The company plans to deliver growth through optimising the value of its core retail brands and unlocking the value in its growth brands, Smiggle and Peter Alexander.
A final fully franked dividend of 20 cents per share has been declared, taking the full year payout to 40 cents per share.
