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September 29, 2006

AUSTRALIA: Allied Brands issues upbeat forecast

Allied Brands today (29 September) said that the company is likely to beat profit guidance in the current quarter thanks to buoyant market conditions.

Allied Brands today (29 September) said that the company is likely to beat profit guidance in the current quarter thanks to buoyant market conditions.

Same-store sales growth for the month of August was up by more than 10%, the company said. System sales were up by more than 17%, Allied brands revealed.

The company added that it expects growth to continue, with the opening of three new stores in October and one new store in November. Further store openings are planned to be completed before Christmas. 

Allied Brands anticipates the peak Christmas season to be substantially improved on last year, with same-store and total sales forecast to show “excellent growth”.

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