VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR
Written on the 18 August 2017 by Business News Australia
IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver steady financial results.
Vita Group, the consultative sales organisation which owns several Telstra outlets, boosted its revenue by five per cent to $674.6 million and its net profit margin by three per cent to hit $39 million.
The company's EBITDA dropped two per cent to $65 million, reflecting its rocky year which, in early April, saw its shares plummet over 21 per cent in a single day.
This freefall came after a Telstra document was leaked and rumours surfaced that Telstra was planning to take back control of some of its most successful stores.
Despite the year's challenges, chief executive officer of Vita Group Maxine Horne says she is happy with how the company has managed.
"I am very pleased with our performance, which highlights Vita's ability to execute, in spite of current market challenges," she says.
"Our results demonstrate why we focus on attracting and developing the best talent to deliver exceptional customer experiences through consultative selling.
"This is key to our ongoing success."
Vita Group has declared a final full year dividend of 16.6 cents per share, up 19 per cent on FY16.
At the time of writing (12:39pm AEST), VTG shares are trading down just over 4 per cent at $1.76.
Business News Australia
Author: Business News Australia