Company News Summary
Super Retail Group Reports Full Year Results
Original announcement: Company Announcement 2016 Full Year Result
Super Retail Group reported full year results. Full year sales for the Group increased by 8.2% to $2.42bn. The Group's Segment Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at $245.7m, an increase of 6.4%. Normalised net profit after tax increased by 2.2% over the comparative period. Auto and Sports Divisions performing strongly with Segment EBIT growth of 9.0% and 18.6% respectively. Leisure Division delivered 7.1% sales growth, but investment in competitive pricing, inventory clearance and higher product costs resulted in Segment EBIT declining by 42.4%. Restructuring costs of $45.8m after tax associated with transformation of Rays and Infinite Retail businesses. Final Dividend of 21.5c, bringing the full year dividend to 41.5c and representing an increase of 3.8%.
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