20 Mar 2009

Rocky half year for Postie Plus

5:59 am on 20 March 2009

Postie Plus Group expects to turn a profit at the end of this year, despite a rocky start to trading.

The clothing retailer has narrowed its half year loss to $2.7 million from $2.9 million for the same period last year.

Operating revenue was down 5% to $50 million, but it has cut inventories by 30% and reduced its bank debt by $6 million.

Chief executive Ron Boskell says he's quietly confident Postie Plus will turn from loss to profit for the full year.