AUSTRALIA: Poor Ski Sales See Rebel's Profits Slide
Sport and leisure wear retailer, Rebel Sport, on Monday blamed a poor skiing season for a 40 per cent slide in post-tax profit for the first half of the year.
The company, which recently gained Harvey Norman Holdings as its parent body, revealed its interim profit fell to just A$342,000, despite a seven per cent increase in sales revenue to A$111 million.
Bosses attributed the drop to the cost of the merger, and tougher than expected retail conditions due to a slump in ski sales, but added that trading has improved during the current half, with sales estimated to be up around nine per cent.
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