Funtastic (ASX: FUN) has recorded a first half profit of $35.4 million for the first-half of FY18, representing a rare bit of positive news for the ailing Australian retail sector.
The listed company revealed its net profit of $35.4 million was up from a $4.3m loss in the first-half last year.
The positive numbers was achieved mostly through debt restructuring and the company’s revenue fell 31 per cent to $28 million, from the first half result in 2017 of $40.6 million.
These results come at a time when the retail sector in Australia is suffering, primarily due to the dominance of online shopping.
Last week the retail sector was hit with more bad news when it was announced all of the 885 Toys R…
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