Super Retail Group (ASX:SUL) Reports H1 FY25 Results
Financial Performance
Super Retail Group reported a 4% increase in sales to $2.1 billion for H1 FY25, with like-for-like sales growth of 1.8%. The group’s gross margin decreased by 70 basis points to 45.6%, while statutory PBT stood at $184.4 million. Statutory NPAT was $129.8 million, and normalised NPAT was $130.8 million. The statutory EPS was 57.5 cents, and normalised EPS was 57.9 cents.
Operational Highlights
Online sales continued to grow, increasing by 10% to $286 million, representing 14% of total sales. Active club members rose by 8% to 12 million. The company successfully implemented the Rebel Active Loyalty Program, with 4 million club members earning loyalty points over the past year. The store network expanded with 19 new store openings and 14 refurbishments. The group maintained a strong balance sheet with no drawn bank debt and a cash balance of $168 million.
Dividend Announcement
The directors declared a fully franked interim dividend of 32 cents per share, aligning with the group’s policy to pay out 55% to 65% of underlying NPAT annually.
Executive Comments
Group Managing Director and Chief Executive Officer Anthony Heraghty said, “Super Retail Group delivered solid first half sales growth of four per cent – a pleasing outcome considering the challenging consumer conditions throughout the period, especially in New Zealand. Our brands maintained pricing and promotional discipline amidst pockets of elevated promotional activity in the market. The business successfully navigated the peak trade period through strategic initiatives across supply chain, stock availability, merchandising and ranging. These efforts drove accelerated growth in the second quarter at BCF and rebel.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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