Premier Investments (PMV) H2 2025 earnings summary

Executive summary

• Net profit after tax (NPAT) reached $338.2 million, up 31.1% year-over-year, reflecting both continuing and discontinued operations.

• Sale of Apparel Brands to Myer completed after 1H25, streamlining focus to Peter Alexander and Smiggle.

• Shareholders received an in-specie distribution of Myer shares valued at $1.03 billion, plus $387.1 million in franking credits.

• Board declared a final fully franked ordinary dividend of 50 cents per share, payable January 2026.

Financial highlights

• Premier Retail FY25 sales from continuing operations (Peter Alexander & Smiggle) were $812.2 million, up 0.9% on FY24.

• Underlying EBIT for Premier Retail was $195.4 million, down 18.0% year-over-year.

• Gross margin for FY25 was 65.7%; EBIT margin was 24.1%.

• Cash on hand at July 2025 was $333.3 million.

Outlook and guidance

• Board remains confident in delivering during the critical second quarter of 1H26, despite ongoing retail volatility.

• Early 1H26 trading shows Peter Alexander sales up 9.2% and Smiggle sales down 4.0% versus prior comparable period.

• Focus on maximizing EBIT growth for Peter Alexander and Smiggle, with continued international expansion and new loyalty programs.