zodiac clothing stars will shine

Zodiac Clothing - Stars Will Shine

Zodiac Clothing Net Profit Jumps 83.5%

Zodiac Clothing has come out with third quarter results. The company's

net profit was up 83.5% at Rs. 53.40 million from Rs 29.10 million on

yoy basis. Net sales were up 25.77% at Rs. 592.50 million from Rs.

471.10 million. Zodiac reported a jump of 94.5% in Gross Profit which

stood at Rs. 100 million from Rs. 51.40 million during the same

quarter last year.

Zodiac Clothing Co Ltd is principally engaged in the business of

garment products consisting of all types of shirts, ties and

handkerchiefs. It manages branches in London (United Kingdom) and

Dusseldorf (Germany). The Company retails at approximately 1000

multi-brand outlets, and has over 50 Company-owned stores across

India. Its wholly owned subsidiaries include Multiplex Collapsible

Tubes Ltd., Zodiac Clothing Company S. A. (Switzerland) and Zodiac

Garment Factory L. L. C. (United Arab Emirates).

The Company had raised Rs 300 million by way of a preferential issue

of shares to a few financial investors during December 2004. The

objects of the issue interalia were to part fund the acquisition of a

shirt manufacturing facility in the UAE through stepdown subsidiary,

to aggressively grow the Company�s own stores over the next 3 years

and for the acquisition of a new corporate office through a wholly

owned subsidiary. The fund has been fully utilised.