Page Industries: Volume recovery ahead

While GST-led disruption led to muted growth in Q2, expect volumes to bounce back, led by market share gains

The Page Industries stock has gained 15 per cent over the last week on an expected uptick in volumes in the December quarter, market share gains and improvement in margins. The company, which is a franchisee of the Jockey brand, reported an eight per cent volume growth in the September quarter (Q2), well below estimates as goods and services tax (GST)-led disruption hit sales. Growth was especially sluggish in the male innerwear category, which at under four per cent, was one of the lowest the company has recorded. Growth, according to the company, has improved as retailer offtake is at