Equity investor Australian Consolidated Investments Ltd expects its troubled Vox retail group to perform better in the year ahead, although chairman Mr Jonathon Pinshaw was careful not to predict the asset had yet turned the corner.

ACIL's overall result of $214.7 million for 1997-98 had been marred by the poor performance of Vox which continued to be a black mark on the company's report card, Mr Pinshaw told shareholders at the company's annual general meeting yesterday.