Super Retail Group Ltd (ASX: SUL) just revealed its report for the half year period to 31 December 2017.
Super Retail Group is the retail company behind many chains including Supercheap Auto, Rebel, Rays and BCF.
Here are some of the highlights compared to last year:
- Total sales up 2.2% to $1.3 billion
- Operating earnings, or EBITDA, down 1% (What the heck is EBITDA?)
- Profit down 3% to $72.2 million
- Dividend maintained at 21.5 cents per share
Super Retail Group said that the operating expenses increased and therefore the EBITDA decreased because of BCF store delays, the Sports Division transformation, Omni-retail support and investment in technology.
Super Retail Group CEO Peter Birtles said, “We recognise that growth in the markets in which we operate is most likely going to come from an increase in sales from digital channels rather than from the traditional physical channels. We believe this dynamic will lead to opportunities for Super Retail Group to grow its share of the physical market”.
Super Retail said that like for like sales growth in the second half has so far been around 4.5% in Auto, around 2% in Leisure and 1.5% in Sports.
The share price is currently down almost 15% according to Google Finance.
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