BUMPER SALES DRIVE BABY BUNTING GROWTH

Written on the 12 February 2016

BUMPER SALES DRIVE BABY BUNTING GROWTH

BABY Bunting Group (ASX:BBN) has posted its maiden interim results, since listing on the ASX last year.

The Dandenong-based baby furniture and accessories business recorded a 23 per cent decline in net profit to $2.26 million, following expenses relating to the IPO.

The opening of new stores drove strong sales growth, with a 30 per cent lift in revenue to $108.2 million compared to the previous period.

Baby Bunting CEO and managing director Matt Spencer says the results confirm the company's expansion strategy.

"We are delighted to report our first result as an ASX-listed company and to welcome our new shareholders," Spencer says.

"Baby Bunting had a successful period across the business including strong comparable store sales growth, opening four new stores and increased EBITDA margin.

"This result is a credit to the Baby Bunting team across all of our 35 stores, in our distribution centre and support office."

EBITDA for the half year was up 50 per cent at $7.8 million, compared to the previous period.

New stores were opened in Booval, North Lakes and Burleigh Waters in Queensland, as well as Campbelltown in New South Wales.

Growth in the business is expected to continue, with sales in FY16 forecast to be between $225 million and $235 million. EBITDA is expected to be in the range of $16.5 million and $18.5 million.

Spencer says store sales growth will moderate in the second half, based on earlier trading patterns.

"We are pleased with both the current trading performance of the business and the progress being made in expanding our capabilities to support future growth," he says.

Baby Bunting plans to open one to two new stores during the second half of FY16.

 


Latest News

FORMER MFS EXECUTIVES HIT WITH DISQUALIFICATIONS AND MASSIVE FINES FOR MISAPPROPRIATING FUNDS

FIVE key players involved in an investment company that collapsed in 2008 owing $2.5 billion have been ordered to ...

SURFSTITCH BATTLING FOR SURVIVAL

QUEENSLAND based online retailer SurfStitch Group has gone into a voluntary trading halt for three months after it wa...

STARTUP SUCCESS BOILS DOWN TO PERSONALITY, SAYS EXPERT

THOSE who own startups will know that there are many essential qualities of a good entrepreneur; their tenacity, fina...

THE AMBITIOUS PLAN TO TURN A COLLAPSED FRANCHISE INTO AN EXPANDING BUSINESS

AUSTRALIA'S newest master franchise is set to launch in October as a commercial cleaning operation, resurrecte...

Related News

STARTUP SUCCESS BOILS DOWN TO PERSONALITY, SAYS EXPERT

THOSE who own startups will know that there are many essential qualities of a good entrepreneur; their tenacity, fina...

SLATER AND GORDON TAKES SPOTLESS TO COURT

SPOTLESS Group (ASX: SPO) has been hit by a class action launched by Slater and Gordon (ASX: SGH) in the Federal C...

TOPSHOP GOES INTO ADMINISTRATION AMID VOLATILE RETAIL MARKET

TOPSHOP has become the latest in a string of retailers blasted by the volatile retail market, as the iconic fashio...

SIGMA'S SHARE PRICE TAKES A BATTERING AS IT LAUNCHES LEGAL ACTION OVER SUPPLY DEAL

SIGMA Healthcare (ASX: SIG) has taken the MyChemist and Chemist Warehouse chains to court to demand they continue to ...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter