Australian clothing, footwear and soft furnishings group Pacific Brands has posted a 10% growth in annual profit following its recent acquisition of workwear and work footwear label Yakka. PacBrands posted a net profit of $116.6 million for the 12 months ended June 30 compared with $106 million for the corresponding period last year.

Revenues totalled $2.1 billion, up 16% year-on-year, receiving a welcome boost from Yakka sales.

And, while chief executive, Sue Morphet, believes the economic downturn may inhibit growth as the year continues, the company is forecasting 2-3% sales growth for the new financial year, while net profit is expected to rise by 3-5%.

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