The Australian footwear and apparel retailer, Colorado Group, beat market expectations for the first six months to July 28, 2001, posting earnings before tax of A$4.2 million (US$2.1 million). Earnings for 2000 were A$4.1 million.

Sales revenue totalled A$164.4 million, a 19.2% increase on the A$137.9 million earned in the first half of 2000. Net profit after tax at A$2.5 million was 12.7% ahead of last year (2000: A$2.2 million).

Colorado Adventurewear continued to outperform the market, posting single digit comparable store sales gains, whilst the footwear businesses recorded single digit comparable store sales losses, in line with market trends.

Group Managing Director, Mr Rowan Webb said "The company's result reflects the management and sales team's ability to control costs and margins and the continuing strength of the Colorado Adventurewear division."

Colorado group has 338 stores throughout Australia, trading through the divisions of Colorado Adventurewear, Mathers Shoes and Williams the Shoemen.