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Premier upbeat about UK expansion

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Premier upbeat about UK expansion. Retailer Premier Investments is looking to further expand its Smiggle chain in the UK, with plans for up to 30 new stores by the end of next year. Premier Investments reported a net profit of $73m in the year to July 27, a slight improvement from 2013's net profit of $69.3. Premier shares were 1.93 per cent higher at 10.30am at $10.02, indicating a positive response from investors. Premier have noted that there are considerable opportunities for Smiggle in the UK, with personal stationery valued at $2.4 billion, adding, Management continues to see the potential for up to 200 stores over five years in the UK with sales in excess of $200 million,. Smiggle is Premier's best performing asset, achieving sales growth of 17.4 per cent and sales in excess of $100m. Read the full article in Business Spectator: HTTP://WWW.BUSINESSSPECTATOR.COM.AU/NEWS/2014/9/17/RETAIL/PREMIER-UPBEAT-ABOUT-UK-EXPANSION


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