Fashion house UnderCoverWear (UCW) has disclosed it expects full year figures for 2012 to be lacklustre.
The company, which sells both outerwear and lingerie ranges, has released its full year guidance with directors advising that they expect the full year financial result (subject to audit) to reflect a loss of between $450,000 and $650,000.
UCW said the expected result “should be compared with the previous period full year loss (excluding goodwill impairment)”.
As reported previously in ragtrader.com.au, UCW suffered a net loss of $16.1 million for the 2011 financial year, after ceasing local production in December 2010 and moving its manufacturing offshore.
The company, which has been in operating since 1981, also reported revenue for the half-year ended December 31, 2011, down 38.6 per cent to $6,602, 993, compared to $10,751,754 in the previous corresponding period.