Premier full-year profit lifts

Retail group to open more stores overseas, warns of challenging local market.

Premier Investments (PMV) has warned of a challenging Australian retail environment and is set to open more stores overseas after lifting revenue and profit.

The group reported profit after tax of $174.5 million in fiscal 2013, higher than the prior year's $68.3 million due to a one-off accounting reclassification gain.

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