Retail Lull Leaves PPGL Result Little Changed

The continued volatility in consumer confidence in New Zealand is reflected in an almost unchanged trading performance by the apparel retailer Postie Plus Group Ltd (‘PPGL’) during the company’s opening six months of the current year.

PPGL has posted sales of $53.924m compared with the same period last year of $56.536m showing a decrease of 4.6% in top line sales. However the overall Group gross margin % improved for the period, following a stronger performance by the Postie brand in spite of a sluggish apparel market. Further expenses continue to be managed well with overall expenses less than last year.

POSTIE PLUS GROUP LIMITED
ANNUAL ADDRESS BY CHIEF EXECUTIVE RON BOSKELL, 13 DECEMBER 2011

PPGL ANNUAL ADDRESS BY CHAIRMAN, MR RICHARD PUNTER, 13 DECEMBER 2011.