Postie Plus Group Bounces Back

NZX and Media Release

Postie Plus Group Bounces Back

PPGL Sales Results by Quarter (Continuous Operations)

($m) 2009 2008 Inc/(Dec)

Quarter 1 19.92 21.84 (8.8%)
Quarter 2 29.98 30.70 (2.3%)
Quarter 3 25.41 23.69 7.3%
Quarter 4 34.92 30.95 12.85%

Full Year 110.4 107.2 2.98%

Nationwide retailer, Postie Plus Group, has bounced back with positive sales in both the remaining 2 quarters of the financial year. Quarter 4 delivered a 12.85% increase on sales for the same period last year. The above table demonstrates a continued positive trend over the 4 quarters.

Managing Director Ron Boskell said Group increases in both sales and margins were achieved during the fourth quarter of the year indicating that the product range was what the market wanted.
The success of winter is attributable to amongst other things our new offering, more fashion, better fits and improved quality.

The continuous improvement in sales in the 4th quarter over earlier periods brings to fruition the significant structural and operational changes in the business over the past two years. This is a pleasing sales performance in light of the recession and strong competition from competitors scrambling to increase sales at the expense of margin.

The sales results and gains in market share together with restructuring initiatives place the Company in a stronger position for the ensuing season.

In accordance with guidance given in March this year we forecast a modest profit after tax. The full year results will be published late September 2009.

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