Ann: PGR Half Year Results Announcement, page-2

result met latest update.
some bad, and some good

first the bad-
metallicus writedown of goodwill. not performing anywhere near expectation, but some early signs of improvement. Same store sales overall down 4.5%
still continued weak consumer sentiment - no sign of recovery yet - as expected, interest cuts will take time.
CFO resigned, but i got told it was planned. New CFO is well experienced from DJS
designworks wholesale down well flagged - due to target wholesale and store rollout, this is as expected.
not much buying depth yet- overseas investor will take time to interpret results.


good-

new brand licenses are high quality
overseas expansion - toys r us japan, review singapore, there is some blue sky here.
coles and woolworths expansion
continued store growth is progressing and increasing sales
unused $30m debt facility for accretive acquisitions
fully franked dividend

outlook not confirmed due to market conditions, but improvement in 2H stated.