Premier Investments top loser on ASX 200 as FY profit falls, Smiggle demerger postponed
** Shares of apparel and accessories retailer Premier Investments PMV.AX fall as much as 9.4% to A$30.680, marking its steepest intraday drop since late-March 2020
** PMV stock top loser on ASX 200 benchmark index .AXJO
** Co posts a 4.9% drop in FY24 net profit attributable to A$257.9 mln ($177.85 mln)
** Says retail global sales down 2.9%
** Adds it is no longer working towards the demerger of stationery brand Smiggle by the end of January 2025, as announced earlier
** Says it has prioritised exploring proposed combination of Myer Holdings' MYR.AX with PMV's apparel brands business
** PMV adds timing of any demerger of Peter Alexander or Smiggle brangs will depend on outcome of Myer discussions
** Stock last down 8.9%, trimming YTD gains to 11.1%
($1 = 1.4501 Australian dollars)
Reporting by Himanshi Akhand in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
