AUSTRALIA: Shoe Firm Colorado Posts Profit Jump
The Brisbane-based firm, which also sells adventure gear, said in a statement its revenue jumped 17 per cent to A$378m, while earnings before interest and tax rose 14.4 per cent to A$25.9m, but that same-store sales growth was flat.
Managing director, Rowan Webb, commented: "The double-digit earnings growth we have experienced in the two years since listing is expected to continue as we build a company recognised for sustainable growth.
"Our focus on costs and margins in 2001 has set the platform for a more aggressive approach to top-line sales growth in the year to come, particularly when it comes to comparable stores."
He added sales in 2002 were encouraging and expected a good performance from footwear firm Diana Ferrari which it acquired last month.
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