Pacific Brands Profit Jumps

Submitted by Share Trading on 24 February, 2010 - 14:52

Pacific Brands (PBG) has seen their first half profit jump to $22.2 million compared to the previous years’ corresponding period where the company lost $150 million. Pacific Brands is a clothing and bedding maker who owns famous Australian brands such as Bonds, King Gee, Mossimo, Clarks and Volley. Last year Pacific Brands put 1850 Australian workers out of work as they announced that most of their manufacturing operations were to move to China. The company noted that by March 2010 its workforce will be further reduced by about 3000 employees with 7 factories in Australia and New Zealand closing.