Super Retail profit surges 73%
Leisure and sports retailer Super Retail Group has increased its first half profit by 73.5 per cent due to its leading market position.
The company on Wednesday posted a first half profit of $60.61 million, up from $34.94 million in the previous corresponding period.
Revenue from continuing operations also lifted, by 36.6 per cent to $1.037 billion from $759 million in the 2011-12 first half.
Managing director Peter Birtles said the results were attributable to the group’s market-leading position in a number of leisure retail categories and its commitment to new products and efficiencies in its supply chain.
‘‘The sales and margin performance in each of the Supercheap Auto, BCF, Rebel and Amart businesses has continued to be very pleasing and the Ray’s Outdoors business has delivered a strong improvement when compared to the prior comparative period,’’ he said in a statement.
‘‘We have experienced very pleasing like-for-like sales growth in our Fishing Camping Outdoors business and early signs from the Goldcross Cycles store within a store trial are positive but both these businesses continue to incur losses with additional costs incurred in restructuring the Cycles business.’’
The company declared a fully-franked interim dividend of 17 cents per share, an increase of 31 per cent.