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Postie Plus narrows first-half loss, shares climb

Wednesday 10th February 2010

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Postie Plus, the clothing retailer, said it made a "significantly lower" loss in the six months ended Jan. 31 than the $2.7 million reported for the same period in 2008.

The company habitually produces a first-half loss, with profitability restored by second half trading, but it had booked at 9.25% increase in sales for the first half of the year, and had "retained increases in margin achieved as part of our longer term profit improvement programme," maintaining an improving trend for first half earnings.

Postie Plus shares climbed 2.6% to 40 cents on the NZX today. Detailed earnings for the first half are due for release on March 9.

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