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Premier Investments Faces Sales Dip in 1HFY25 but Eyes Growth with Peter Alexander Expansion

Fri 21 Mar 25, 12:54 AM | Team Kalkine

Image source: Shutterstock

Highlights

  • Decline in Sales and Profit: Continuing operations sales fell 1.8% to AU$455 million, while EBIT dropped 16% to AU$129.4 million due to a challenging retail environment.
  • Peter Alexander Expansion: The brand saw a 6.6% sales increase, with new store openings and expansion plans, including a UK market push.
  • Future Growth Strategies: Plans include loyalty program development, Smiggle’s international expansion, and a return to dividend payments in September 2025.

Premier Investments Ltd (ASX:PMV) has released its FY25 half-year results, revealing a decline in sales and earnings amid a tough retail landscape. The company, now focused on its core brands—including Peter Alexander, Smiggle, and its stake in Breville Group Ltd (ASX:BRG)—is looking ahead with expansion plans and strategic investments.

FY25 Half-Year Financial Performance

Following the sale of certain businesses to Myer Holdings Ltd (ASX:MYR), Premier Investments categorised the sold retailers as discontinued operations, while its remaining businesses form its continuing operations. The financial performance highlights include:

  • Continuing operations sales declined 1.8% year-over-year to AU$455 million.
  • Continuing operations EBIT fell 16% to AU$129.4 million.
  • Total sales (including discontinued operations) dropped 2.5% to AU$857.8 million.
  • Total EBIT (including discontinued operations) declined 20.9% to AU$162 million.
  • Statutory net profit after tax (NPAT) saw a sharp drop of 34%, landing at AU$117.1 million.
  • No dividend was declared for this period, though the company intends to resume payments in September 2025.

Premier Investments attributed the downturn in sales to a challenging discretionary retail market, particularly for Smiggle, which saw sales decline 14.5% to AU$157.3 million. However, Peter Alexander sales (excluding the UK) increased by 6.6% to AU$297.7 million.

The company’s Breville Group investment continued to be a financial pillar, yielding AU$6.2 million in dividends, with its 25.4% stake valued at AU$1.33 billion.

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This article has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate authorised to provide general financial product advice. Kalkine.com.au and associated pages are published by Kalkine. Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate to your objectives, financial situation and needs before acting upon it. There may be a Product Disclosure Statement, Information Statement or other offer document for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the relevant Product Disclosure Statement, Information Statement or offer document and consider the statement or document before making any decision about whether to acquire the security or product. Please note past performance is neither an indicator nor a guarantee of future performance. You should also seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice/information in this article or on the Kalkine website. Not all investments are appropriate for all people. The information in this article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of information contained in its articles, newsletters and websites. All information represents our views at the date of publication and may change without notice. Kalkine does not guarantee the performance of, or returns on, any investment. To the extent permitted by law, Kalkine excludes all liability for any loss or damage arising from the use of this article, the Kalkine website and any information published on the Kalkine website (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine hereby limits its liability, to the extent permitted by law. Please also read our Terms & Conditions and Financial Services Guide for further information. On the date of publishing this article (referred to on the Kalkine website), employees and/or associates of Kalkine and its related entities do not hold interests in any of the securities or other financial products covered on the Kalkine website unless those persons comply with certain safeguards, procedures, and disclosures. Some of the images/music that may be used in the article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the article unless stated otherwise. The images/music that may be used in the article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary. Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.

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