Pacific Brands tips 18 per cent lift

Pacific Brands expects to overachieve on its prospectus earnings forecast, which should lead to an 18 per cent lift in earnings per share in 2004/05.

The company added yesterday that its trading for the first quarter was in line with expectations and it expected to gain momentum over the financial year.

Pacific Brands chief executive Paul Moore said the group expected to over-achieve on its 2004 financial year forecast for earnings before interest, tax and amortisation (ebita) by a similar percentage as in 2004.

Brands managed by the group include Berlei, Dunlop, Sleepmaker, Everlast, Slazenger and King Gee.