Super Retail Group Ltd (ASX: SUL) released its 2018 financial results to the market today revealing a 7% increase in net profit, which has sent the share price up 9% so far.
Super Retail is a retail business that operates BCF, Rebel, Macpac and Supercheap Auto.
Here are some of the highlights from its report:
- Total sales grew by 4.2% to $2.57 billion
- EBITDA grew by 5.8% to $294.1 million
- ‘Normalised’ net profit grew by 7% to $145.3 million
- Reported Net profit grew by 26% to $128.3 million
- Full year dividend up 5.4% to 49 cents per share
According to Bloomberg, analysts were expecting Super Retail to report a profit of $140.2 million. A dividend of $0.46 was also expected. With the result above estimates investors appear to have been impressed by the company’s performance.
Supercheap grew sales by 5.3%, Rebel grew sales by 3.2% and BCF grew sales by 3.7% – all three beat the ABS Retail Trade figure of 2.9% annual growth in sales.
Super Retail also revealed online sales growth of 85% for Supercheap Auto, 152% for Rebel and 76% for BCF. The company was happy to point out these growth figures considering Amazon has just arrived into Australia.
In the report the company said: “The Group continues to invest in omni-retailing capability through investment in new stores, refurbishment of the store network and developing customer solutions and experiences in both the physical and digital networks.”
FY19 update
In the first six weeks of FY19 Supercheap has achieved like for like sales growth of around 5%, BCF’s like for like sales growth of 3%, Rebel’s growth is 3% and Macpac is around 7%.
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