BT Investment Management has just emerged with a 5% holding in RCG Corporation following a good interim result and optimistic outlook commentary

BT Investment Management has just emerged with a 5% holding in RCG Corporation following a good interim result and optimistic outlook commentary. RCG is an investment holding company which owns and operates a number of footwear businesses in the performance, comfort and active lifestyle sectors including The Athletes Foot. The interim result for RCG showed a 9% increased in net profit and a 14% increase in the interim dividend. The Company is targeting 14% earnings growth in the year ahead after recently completing a number of investment initiatives. Managements' focus will now shift from implementation to leveraging off the opportunities created by these initiatives. An improvement in consumer confidence would be a tailwind for a business such as RCG. With these investments completed, strong sales and earnings momentum BTIM have sensed an opportunity in RCG. Media release from the results here: (VIEW LINK)


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