FEWER Australian companies hired R M Williams to make their official uniforms last year, contributing to a fall in profits for the famous brand.
The Australian Financial Review reports profit after tax for the year ended June 30 was $880,108 compared with $8.18 million the year before, when profits were increased by the sale of New Zealand Life and Leisure magazine for $7.08 million. Revenue fell 2 per cent to $92.5 million.
R M Williams is owned by Rupert Murdoch's former right-hand man, Ken Cowley, who took control of the company in 2003.
Last year was the first time the company's corporate direct division - which specialises in providing uniforms for Australian companies - experienced a decline in sales "as larger corporations decreased their discretional spend", according to the company's annual report.
Rural service providers including Elders, Regional Express, King Island Dairy, Cargill and National Australia Bank have previously kitted out their employees in clothes from R M Williams.
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