Reject Shop expects $10.5m net profit 1HFY19

Company News

by Anna Napoli

The Reject Shop (ASX:TRS) says it expects net profit after tax for the six months to December 31 to be roughly $10.5 million.

Management at The Reject Shop Ltd described retail conditions in Australia as “extremely challenging”, but say the result is consistent with the guidance provided October 17 2018.

The trading update comes as the company is in the midst of a takeover offer from Allensford.

The Reject Shop Board continues to urge shareholders to reject the $2.70 per share offer.

Shares in The Reject Shop (ASX:TRS) closed 0.37 per cent lower at $2.72 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.