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January 30, 2002

AUSTRALIA: Austin’s Interim Profits Seen Up 275 Per Cent

Clothing designer and wholesaler Austin Group Ltd said on Wednesday it expected first half pre-tax profits to soar 275 per cent to A$1.5 million (US$0.76m) compared to A$0.4m (US$0.2m) in the year-ago period. The Victoria-based clothing designer, importer and wholesaler attributed the forecast profits leap to an 11 per cent increase in sales to A$21.9m (US$11.1m).

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