Sales up for Postie Plus

Fairfax Media

POSITIVE DATA: Postie Plus Group Ltd said sales increased by 9.25 percent in the six months ended January 31, 2010 compared to the same period last year.

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Postie Plus Group Ltd said sales increased by 9.25 percent in the six months ended January 31, 2010 compared to the same period last year.

Group sales lifted 5.5 percent in the important November-to-January second quarter. The company reports first-half earnings on March 9.

The report came after Briscoe Group reported last week that its fourth quarter sales rose 14.32 percent from the same quarter a year ago.

"Importantly, the first-half sales growth has ensured that the anticipated first-half loss will be significantly lower than the first-half loss of $2.7 million last year, further continuing an improving trend," the company said.

"The fact that we achieved this improvement in challenging economic conditions confirms the strength of consumer loyalty to PPGL's brands with Postie Plus, Schooltex and Babycity each continuing to grow market share," said Ron Boskell, group chief executive.

The company was focused on achieving a strong performance in the second half, which had traditionally provided the profit for the business, he said.

- NZPA