Pacific Brands dressed to impress
On Wednesday, clothing group Pacific Brands (ASX: PBG) released its half yearly results, with the company posting a profit of $24.3 million against a loss of $108.7 million in the prior corresponding period. Sales rose 8.6% to $425.3 million, with chief executive David Bortolussi saying the strategy of simplifying the company and focussing on its high quality brands Bonds and Sheridan is working. Mr Bortolussi raised the company's full-year earnings guidance to between $73 and $75 million, above analyst consensus estimates of $66 million. PBG shares closed up 15.6% for the week. We own PBG in the investment portfolio.
Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...