RCG Corporation Ltd Lowered underlying annualised full-year EBITDA forecast

Lowered underlying annualised full-year EBITDA forecast: RCG Corporation Ltd (ASX: RCG) lately announced that Danny Gilbert and Cindy Gilbert have resigned as Co CEO’s of Hype DC Pty Ltd. Danny Gilbert will remain as a non‐executive director of RCG. Earlier, RCG reported that its underlying Net Profit After Tax (NPAT) of $23.3 million indicated for a growth of 34% on the prior year. Underlying diluted Earnings Per Share (EPS) of 4.3 cents witnessed a growth of 17% on the prior year while fully franked interim dividend of 3.0 cents per share soared up 20% on the prior year. Group’s underlying consolidated Earnings Before Interest Tax and Depreciation (EBITDA) was reported to be up 42% to $42.9 million for the half-year ended December 25, 2016, on the prior year. RCG’s Accent division rolled out 28 new stores during the half-year and 12 additional stores are expected to be opened before the end of the financial year. While Accent delivered better retail sales, The Athlete’s Foot (TAF) recorded sales were down 2% as Boxing Day fell outside the December trading period.

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