AUSTRALIA: Oroton FY Profit Surges 30% On Soaring Sales
The company posted a 30 per cent climb in net profit for the year ending August to A$8.35 million (US$5.67m) as revenue from ordinary activities surged 37.7 per cent to A$120.3m (US$81.62m).
The group, whose brands include Oroton, Morrissey and Marcs, opened 21 stores during the year to give it a retail network of 75 shops. It is the only licensee of Polo Ralph Lauren clothing in Australia and New Zealand.
"The group has made substantial progress over the last six years and the board and management are excited by the long-term prospects, as there is significant organic growth potential in Australia and New Zealand for its brands," it said.
Oroton added it will launch its new Dr Denim concept, aimed at 18 to 35-year-olds, later this week.
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