Premier Investments Ltd

PMV: XASX (AUS)
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Premier Kicks Off Calendar 2021 With Solid Sales Growth, but Demand to Normalise From Fiscal 2022

No-moat Premier Investments’ first-half results for fiscal 2021 were largely a foregone conclusion at the group level. Nevertheless, the announcement provided additional insights into the composition of sales growth and the drivers of the profit margin improvement. While Premier’s management offered a solid trading update for the second half, fiscal 2021 sales and profitability remain highly uncertain in relative terms. This could partly explain the board’s cautious stance on the interim dividend.

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