Kresta sees upside despite profit slump
Blinds maker Kresta Holdings has posted a 69 per cent slump in first-half profit to $560,000.
However the company noted its underlying EBIT was up 65 per cent to $1.31 million.
Sales revenue was off 7 per cent to $50.3 million for the six months to the end of December.
The company held cash of $4.14 million on December 31, up from $400,000 on June 13 last year.
It has elected not to pay an interim dividend.
Kresta chairman Rick Taylor said despite a subdued start to the financial year for retail, it was pleasing to see some improvement in conditions following the election and leading up to Christmas.
"The company is debt free at the time of this announcement and with a strengthening cashflow and a lowering cost base is well placed to invest for future growth," he said.
Kresta shares were off one cent, or 5.13 per cent, to 18.5 cents at 12.50pm.
