Postie Plus confident of small full year profit

Postie Plus Group says it is "quietly confident" of delivering a modest full year profit, after 18 months of losses.

The retailer has announced a net loss of $2.68 million for the six months to January 31, slightly improved from its $2.91 million loss in the corresponding period last year. Sales revenue was down 5 per cent to $49.9 million.

Postie Plus had slashed inventory levels by 30 per cent, reduced bank debt by 32 per cent, and had made significant efficiency gains from a centralised apparel distribution centre.