Premier Investments' Strategic Review and Financial Performance Update

Premier Investments Limited (ASX:PMV) has released its Appendix 4E - Preliminary Final Report for the 52 weeks ended 27 July 2024. The report provides an overview of the company's financial performance, dividends, net tangible assets, and details about the Board of Directors and key management personnel. The company operates a number of specialty retail fashion chains in Australia, New Zealand, Asia, and Europe, and has significant investments in listed securities and money market deposits. The report also includes information about the company's corporate governance, auditor independence, and remuneration arrangements for key management personnel. Additionally, Premier Investments has provided an update on its strategic review, focusing on retail execution and growth paths for its brands. The company's Remuneration Report outlines its remuneration strategies, incentives, and their connection to shareholder returns. The report also details the remuneration arrangements for Key Management Personnel (KMP) and provides information on the Group's operating segments, revenue recognition, and income tax accounting policies.

Executive Commentary on Strategic Review and Financial Performance

The strategic review initiated by the Premier Board in August 2023 has been pivotal in identifying growth paths for our brands and enhancing retail execution. We are pleased with the progress made in this regard. The strong financial performance in FY24, with a Total Shareholder Return (TSR) of 197% over the past 5 years, reflects the effectiveness of our strategies. Despite challenging market conditions, Premier Retail achieved a robust result in FY24, with an EBIT of $325.9 million, up 94.8% compared to the pre-COVID FY19 EBIT of $167.3 million. Our focus on remuneration strategies and their alignment with positive returns for shareholders underscores our commitment to driving sustainable value for our investors. The comprehensive disclosure of our operating segments, revenue recognition, and income tax accounting policies in the Remuneration Report further demonstrates our dedication to transparency and governance.

Premier Investments' Outlook and Financial Strategy

Premier Investments Limited's strategic review progress and strong financial performance in FY24 indicate a positive outlook for the company. The focus on retail execution and growth paths for its brands, including Smiggle, Peter Alexander, and the Apparel Brands, positions the company for continued success. The robust EBIT of $325.9 million in FY24, despite challenging market conditions, reflects the resilience and effectiveness of Premier Retail's operations. The company's remuneration strategies, incentives, and their connection to shareholder returns underscore its commitment to driving sustainable value for investors. Premier Investments' comprehensive disclosure of operating segments, revenue recognition, and income tax accounting policies reflects its dedication to transparency and governance. The company's strong financial performance and strategic initiatives bode well for its future growth and value creation for stakeholders.