Apparel retailer Postie Plus Group Ltd has posted first quarter sales of NZ$20.5 million after listing on the stock exchange on September 1.

According to the company, strong sales at Postie namesake stores offset lower-than-expected sales from the Rendells and Arbuckles chains.

"Profitability for the quarter was in line with expectations," a company spokesperson said without disclosing actual figures.

Postie Plus has forecast net revenue of NZ$107m for the fiscal year ending July 31, 2004.