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

BRISBANE VFX PRODUCTION COMPANY CLEANS UP AT MAJOR INTERNATIONAL ADVERTISING AWARDS

AUSTRALIAN production company Alt.vfx has broken records in global advertising, becoming the first business to win...

CYCLONE DEBBIE FORCES MINE, RAIL AND PORT CLOSURES AS IT WREAKS HAVOC IN QUEENSLAND

COAL and gold mines in north and central Queensland are being seriously impacted as Cyclone Debbie makes landfall ...

FLYING START TO 2017 PASSENGER NUMBERS FOR GOLD COAST AIRPORT

RECORD numbers of travellers used the Gold Coast Airport (GCA) in January this year, continuing a five-year trend ...

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie th...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter