Pacific Brands returns to profit, reinstates dividend

Mon, 15 Feb 2016

By Fiona Rotherham Feb. 16 (BusinessDesk) - Pacific Brands, owner of the Sheridan, Bonds, Berlei, Tontine and Dunlop Flooring brands, returned to profit in its first half and reinstated dividends with a payout ratio of 60 percent. Net profit was A$24.3 million for the six months ended Dec. 31, a turnaround from a A$108.7 million first half loss last year, the Melbourne-based, dual-listed company said in a statement. Pacific Brands withheld paying a dividend last year despite becoming debt free for the first time, saying it wanted to ge...

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