Pacific Brands halves 1H loss; repays debt with asset sale proceeds

Mon, 16 Feb 2015

By Paul McBeth Feb. 17 (BusinessDesk) - Pacific Brands, the Australian apparel business whose stable of brands include Bonds, Berlei and Sheridan, halved its first-half loss as it took smaller impairment charges than a year earlier, and repaid debt after selling its unprofitable units. The Melbourne-based company reported a loss of A$108.7 million, or 13.1 cents per share, in the six months ended Dec. 31, from a loss of A$219 million a year earlier, it said in a statement. That included impairment charges of A$138.5 million, largely from...

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