Super Retail Group posts $4.2B in annual sales
Full story: https://grafa.com/en/news/australia/super-retail-group-posts-4-2b-in-annual-sales
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Super Retail Group reported a 3.2% increase in annual sales to $4.2 billion.
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Normalised profit before tax fell 7% to $306 million, and shares dropped to $12.38.
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The company stated that investments in new operational systems are expected to position the business for long-term success.
Super Retail Group (ASX:SUL) reported a 3.2% increase in full-year sales to $4.2 billion.
Despite top-line revenue growth, normalised net profit after tax declined 2.8% to $226 million, while statutory NPAT also fell 7.2% to $206 million.
“We achieved 1.8% like-for-like growth across the group, with a pleasing top-line performance from rebel and a resilient result from Supercheap Auto, offset by softer trading conditions for BCF and Macpac,” said Super Retail Group CEO Paul Bradshaw.
Operating cash flow of $593.1 million was $15.8 million above the previous period, reflecting an increased investment in working capital, more than offset by lower cash tax payments.
The retailer expanded its footprint by opening 28 new stores and increased online sales to $552 million.
Following the announcement, the Super Retail Group share price was down at $12.38, even as the company stated its strategy is expected to deliver future growth.
The board declared a fully franked final ordinary dividend of 33 cents per share.
The group is targeting capex in FY27 of $160 million to fund the store development programme and Project Ignite investments, the majority of which will be technology and systems-based.
The business operates major retail brands across Australia and New Zealand, including Supercheap Auto, rebel, BCF, and Macpac.
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