27/01/2010 - 13:28

Kresta jumps up 20% on profit forecast

27/01/2010 - 13:28

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Shares in national window dressings company Kresta Holdings have soared more than 20 per cent after raising its profit forecast on the back of an improved trading period in the second half of 2009.

Kresta jumps up 20% on profit forecast

Shares in national window dressings company Kresta Holdings have soared more than 20 per cent after raising its profit forecast on the back of an improved trading period in the second half of 2009.

The company, which operates curtain and blind brands Kresta Blinds, Vista Window Coverings, Decor2Go and Curtain Wonderland, expects to increase net profit after tax to approximately $4.2 million, representing a 189 per cent increase on the corresponding period last year.

Kresta said the improved trading conditions were the result of a number of management initiaitives including the introduction of new product ranges and cost control measures, a more focussed approach to working capital management and a selective roll-out of new stores.

Kresta is the largest window coverings manufacturer/retailer in Australia and New Zealand, making curtains and blinds for 37 years and employing over 1100 people.

Shares in the company were up five cents, or 20.83 per cent, to 29 cents per share at 1620AEST.

 

 

 

 

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