AUSTRALIA: RCG nearly doubles HY profit
By just-style.com | 21 February 2011
- HY earnings jump 49.7% to AUD$5.2m
- Sales up 9.7% at The Athlete's Foot brand
- 6.1% like-for-like sales growth
Australian footwear group RCG Corporation has lifted its half-year net profit, with sales growth across each of its retail brands.
Profits grew on the back of the "exceptional sales performance" at The Athlete's Foot network, which now numbers 145 stores across Australia and New Zealand, RCG said.
The chain recorded total sales growth of 9.7% from AUD$80.8m (US$81.7m) to $88.7m for the half-year, with 6.1% like-for-like sales growth.
Shoe Superstore, a non-mall based branded comfort footwear business acquired by RCG in September 2009, recorded total sales growth of 23% from $1.95m to $2.30m for the half-year, with 18% like-for-like sales growth.
RCG’s wholesale division, RCG brands, turned over $14.0m in its first 12 months of operation, the company added.
Chairman of RCG Corporation, Ivan Hammerschlag, said: "Our business is healthy, growing and cash generative. We are extremely pleased with our overall results for the half-year and are delighted to be in a position to return a substantial proportion of after tax profits to shareholders by way of dividends."
Companies: The Athlete’s Foot
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