Premier Investments FY24 Financial Performance

Premier Investments Limited (ASX:PMV) has reported a statutory FY24 NPAT of $257.9 million and an adjusted NPAT (non-IFRS) of $244.4 million. The company achieved a record final fully franked ordinary dividend of 70 cents per share, marking a 16.7% increase from the previous year. Premier Retail's global sales reached $1.6 billion, reflecting a 25.5% increase compared to the pre-COVID FY19 business. The company's strategic review has identified significant future opportunities for its brands, with a focus on creating shareholder value and maintaining the integrity of each business.

Chairman's Reflection on FY24 Performance

Premier's Chairman, Mr Solomon Lew, acknowledged the challenging retail environment in FY24. Despite this, Premier Retail delivered a strong EBIT result of $325.9 million, demonstrating careful management of gross margin and operational costs. The strategic review has highlighted significant future opportunities for each of Peter Alexander, Smiggle, and the Apparel Brands. The Board's focus is on creating shareholder value while maintaining the potential and integrity of each business.

Outlook and Strategic Initiatives

Premier Investments' FY24 performance reflects resilience in the face of challenging retail conditions. The company's focus on delivering value for customers, operational efficiencies, and strategic investments has contributed to its strong financial results. Premier Retail's brands, including Peter Alexander, Smiggle, and the Apparel Brands, have shown resilience and are poised for future growth. The company's strategic review continues to progress, with a focus on maximizing shareholder value and exploring potential opportunities with Myer. Premier Investments maintains a strong balance sheet, with strategic investments in Breville and Myer, and a clean inventory position to start FY25. The company's commitment to rewarding shareholders is evident in the record final fully franked ordinary dividend of 70 cents per share. Looking ahead, Premier Investments is well-positioned to capitalize on future growth opportunities and deliver value to its shareholders.