Microsoft Word - 150702_Guidance range upgrade (Final)


2 July 2015

Pacific Brands upgrades guidance range for the year ending 30 June 2015

EBIT before significant items1 expected to be in the range of $63 million to $65 million (previously $57.4 million to $63.0 million)

Sales growth expected to be c.5.3%

Net debt expected to be cash positive at c.$1 million

At the time of its interim results announcement (17 February 2015), Pacific Brands expected
2H15 EBIT before significant items1 to be up on PCP ($25.9 million) but unlikely to exceed 1H15 ($31.5 million), for the continuing business. This implied full year EBIT before significant items1 of between $57.4 million and $63.0 million. These expectations were largely dependent on May
and June trading which are significant months.
Pacific Brands now advises that the Company expects F15 EBIT before significant items1 to be in the range of $63 million to $65 million, with sales growth of c.5.3% versus prior year. Net debt is expected to be cash positive at c.$1 million.
The key contributing factors to the improved 2H15 results relative to PCP have been the continued strong performance of Bonds and Sheridan retail, disciplined margin management and cost control and further action on corporate costs following the divestments. This has been partially offset by challenges in the discount department store channel.
These estimates and comments are preliminary in nature, subject to finalisation by the Company and external audit. Full details will be available with the release of Pacific Brands full year
results on 25 August 2015.
For further information contact:

Investors Media

Joanne Higham Sue Cato General Manager, Investor Relations Cato Counsel Pacific Brands Limited +61 419 282 319
+61 3 9947 4919
+61 421 568 395 jhigham@pacbrands.com.au

1 Significant items as disclosed in the Financial Statements, primarily relating to asset impairments (non-cash)

and restructuring costs (cash)

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