OrotonGroup : 13/08/2015 - Full Year Earnings Update for the 2015 Financial Year

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OrotonGroup Ltd Full Year Earnings Update for the

2015 Financial Year

13 August 2015

OrotonGroup Ltd (ORL) today announced an update to its forecast 2015 full year (FY15) results, after the conclusion of the sale of its share in the Brooks Brothers Australia joint venture.
Mark Newman, CEO and Managing Director, said "We now expect underlying Group EBIT (1) for the 2015 financial year, to be approximately $6.7m vs the $4.5m previously announced, subject to the finalisation of year end accounting processes and audit. The improvement is primarily due to the better trading performance from our
core Oroton brand in June and July and the exclusion from underlying earnings of our share of the trading losses in the Brooks Brothers joint venture for the year, given the disposal of OrotonGroup's share of the Joint Venture, announced on 24th July 2015.
The total impact of Brooks Brothers Australia on the OrotonGroup EBIT in FY15 will not be significant as OrotonGroup's share of the Brooks Brothers Australia FY15 trading losses approximates the accounting gain on exit.
We look forward to updating the market in more detail at our full year FY15 results announcement on 17th
September 2015."

(1) Underlying Group EBIT has been calculated as Group EBIT adjusted for the significant onerous lease since the closure of the Hong Kong Store, the lease and other costs from the closure of the Singapore office and the equity accounted Brooks Brothers Australia trading losses and Gain on Exit from Brooks Brothers Australia

For further information contact:

Mark Newman, CEO/Managing Director or Vanessa De Bono CFO/Company Secretary

Tel: [phone]

OrotonGroup Limited ACN: 000 038 675 409 GEORGE ST, WATERLOO 2017 Tel: [phone], Fax: [phone]