The national clothing retail string Postie Plus had accounted for a 32 per cent drop in earnings to $415,000 subsequent to a harsh retailing year. The end result profit was attained on by 3 per cent elevated sales than the year previous to at $113.8 million. The three months in the winter of fourth quarter, from May to July, undergo worsening in the sales tendency.

According to the chairman of Postie, Peter van Rij, a dividend might not be remunerated for the 2010 year. Further he added that though, a yield to recurring dividends is an objective of the PPGL board. Van Rij also said that Postie had sustained to augment market share in the clothing section during the year to August 1, 2010.

Van Rij further voiced that the group churned out development in the precedent year in plummeting costs by 2.2 per cent against to the prior year, crafted additional savings in distribution expenses of $448,000, had sturdy command of stock, inferior borrowings by $2.4m and enhanced cash flow by $3.7m.

The new fiscal year had commenced more pleasingly with August churning out a stronger recital than the preceding August.

While it is early on days, they have witnessed a amalgamation of fine outcome from the new spring period fashion present and few postponed sales from the winter period, as per van Rij.