Apparel retailer, Pas Group has reported a 14.3 per cent increase in profit to $11.3 million, with retail sales up 15.4 per cent to $135.9 for the company.

The group opened 31 new stores for the year and like for like sales were up 3.7 per cent.

Online sales grew by 149 per cent and represent 9 per cent of total sales for the business.

The Pas Group board has declared a final dividend of 2.6 cents per share, with total dividends declared as 5.2 cents per share for the year.

“Pas continued to successfully deliver against its growth strategy with several initiatives underway that will underpin this growth over the long term,” said Eric Morris, CEO of Pas.

“With no debt and good cash flows, the business is in a strong financial position with the capacity to make further value enhancing acquisitions.”

Pas said the acquisition of White Runway and Jets swimwear in conjunction with the successful transition of Designworks, which achieved over $100 million in sales, drove the solid result for the company.

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