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Australia: Strathfield seeks end to bar on trading

Australian electronics retailer Strathfield Group will lobby the Australian Securities Exchange to lift a year-long trading suspension over its shares, after posting the last of its outstanding financial reports on 17 March.

The troubled retailer, which had a brief stint in the hands of administrators early last year, has told investors it is confident its recent difficulties have been resolved, and has declared an interim profit of AUD2.9 million (USD2.7 million). A year ago, the company reported a loss of AUD18 million (USD16.5 million).

"This is a significant turnaround and one that the board is quietly confident of being sustainable," chairman Vaz Hovanessian said on 17 March, citing improvements in balance sheets, working capital and profit margins.