Comparable sales 4.4%, turnaround from -3.3% in the prior corresponding period
EBITDA up 26.3% to $36 million
NPAT up 43.0% to $18.3 million
Interim dividend of 25cps (up from 16.5cps in pcp)
Financial Snapshot
Half Year Results ($M)
HY2016
HY2015
% Change
Sales
424.7
402.2
5.6%
Comp Sales
4.4%
(3.3%)
EBITDA (pre-store related adj'.)
37.7
32.1
17.5%
Store open'g / refurb. / relay costs
(0.4)
(3.6)
DC Melb. Airport exit costs
(1.3)
0.0
EBITDA
36.0
28.5
26.3%
D&A
9.6
9.5
EBIT
26.4
19.0
38.8%
Net Interest Expense
(0.5)
(0.9)
Income Tax Expense
(7.6)
(5.3)
NPAT
18.3
12.8
43.0%
Earnings Per Share
63.5cps
44.4cps
Interim Dividend Per Share
25cps
16.5cps
Sales Up 5.6%
Comparable store sales turnaround:
- 1st Qtr +6.1%
- 2nd Qtr +3.2%
- 1st Half +4.4%
8 new stores; 3 closures, 2 relocations
EBIT up 38.8%, and NPAT up 43.0% on prior half
GP% well managed given $AUD currency devaluation
CODB focus has seen significant savings, particularly in store related costs , with more to come
EDITDA and NPAT achieved despite recording initial costs to exit Melbourne DC
Strong Balance Sheet Position
Strong operating cashflow
Debt covenants comfortably met
The Reject Shop Limited issued this content on 17 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 February 2016 23:09:20 UTC
Original Document: http://www.rejectshop.com.au/medias/FY16-1H-Results-Presentation-v7.pdf?context=bWFzdGVyfHByZXNzcmVsZWFzZXwxMDA4MjI0fGFwcGxpY2F0aW9uL3BkZnxwcmVzc3JlbGVhc2UvaDRlL2g0OC84ODAwNzA0OTIxNjMwLnBkZnwxN2I2Njk4Y2NjZTYxODY5NzU0OTA2M2I3M2E0MmY5YTQxNTJiODlmNDFkOTBmZjMzOGUxNDVhOGYzYzQ1NDc4
The Reject Shop Limited is an Australia-based company, which is engaged in retailing of discount variety merchandise. The Company specializes in in curating furniture items that are on surplus clearance and factory rejects due to minor cosmetic defects. It sells a range of furniture items that are brand new but have been rejected due to minor defects or damages during the manufacturing process. These items are sold at a lower price compared to similar products available in the market. Its product categories include dining room, living room, bedroom, outdoor, delivery options, office, luxury goods, homeware and appliance, home decor, electronics, and lighting. Its dining room products include HOVE Oval Dining Table in WALNUT, LORRAINE Outdoor Table in GREY, CHUNGHA Carrara Marble Dining Table with WALNUT Frame, BINNA Dining Table in OAK, and DALMASSE Small V-Frame Square Dining Table in NATURAL. Its luxury products include Louis Vuitton Handbag Preloved and TODS Handbag Preloved.