The Breville Group Ltd (ASX: BRG) share price has gone ballistic today, rising nearly 20%, following the release of its half-year report.
‘Ballistic’ is a key finance term, which means ‘risen very fast’.
Why Have Breville Group Shares ‘Risen Very Fast’?
Breville Group Ltd was established in Melbourne in 1932 as a radio manufacturer, but during the 1960s the focus shifted to household products and kitchen appliances. Breville Group Ltd now includes the brands Breville, Kambrook, Sage and several others, and the products range from toasted sandwich makers to vacuum cleaners.
For the half-year ended 31 December 2018, Breville reported:
- Revenue of $440 million, up 15%
- Profit up 19.7% to $43.5 million
- A dividend of 18.5 cents per share, up from 16.5 cents
“The first half of FY19 was a solid half for the Group,” Breville Group CEO Jim Clayton said.
“We continued to deliver double digit EBIT growth while successfully executing on our acceleration program, increasing our investment in product development and marketing, and successfully entering the German and Austrian markets.”
Popping the hood on the result, both of Breville’s key businesses, which it calls Distribution and Global Product, performed well. In North America, Breville achieved 14% revenue growth (in AUD terms) while the European division upped revenue 39% to $51 million.
So far in 2019, Breville Group shares have risen from $10.43 to a high of $14.26 today.
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