Billionaire Solomon Lew flagged that the company he controls, Premier Investments, wants to acquire a health, beauty and cosmetics business, after he also warned that retail trading conditions were was the worst he had seen in six decades.
The poor trading conditions dragged down Premier Investment’s performance after the group, which owns brands Smiggle and Peter Alexander, reported a 34 per cent fall in net profit to $117 million for the six months to January 25.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
