Pacific Brands under review

Pacific Brands’ new chief executive David Bortolussi addressed shareholders for the first time at the company’s annual meeting but his words didn't fill us with confidence. He said the year ahead would be characterised by a ‘continuation of challenging and variable market conditions'. The company posted a net loss of $225m for the year to 30 June. Bortolussi also said the company would carry on with its extensive restructure by discontinuing poorly performing brands. As we explained in What would you pay for Pacific Brands? on 22 Apr 14 (Hold – $0.54), closing or, better yet, selling the laggards is...

Pacific Brands’ new chief executive David Bortolussi addressed shareholders for the first time at the company’s annual meeting but his words didn't fill us with confidence. He said the year ahead would be characterised by a ‘continuation of challenging and variable market conditions'. The company posted a net loss of $225m for the year to 30 June.

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