Premier Investments reports transformative year with strong shareholder returns

Premier Investments Limited reported a transformative FY25, highlighted by the sale of its Apparel Brands to Myer Holdings Limited. This transaction involved Premier receiving 890.5 million new Myer shares, which were subsequently distributed to Premier shareholders via an in-specie distribution valued at $1.03 bn, representing $6.46 per Premier share. This included a capital reduction of $0.81 per share and a fully franked distribution dividend of $5.65 per share.

The company's continuing operations, now focused on Peter Alexander and Smiggle, delivered global sales of $816.8m, a 1.52% increase from FY24. Premier Retail's underlying EBIT for continuing operations was $195.4m, achieving an EBIT margin of 24.1%. Net profit for the period attributable to owners increased to $338.2m from $257.9m in FY24.

Premier shareholders also received a final ordinary dividend of $0.50 per share, fully franked, contributing to total cash dividends of over $825m in the past five years. The company maintained a robust balance sheet with $333.3m cash on hand at year-end.