Super Retail Group Limited
(ASX:SUL) has posted a first half profit drop but says the second half of the 2015 financial year has started well.
The owner of Rebel Sports and Supercheap Auto saw its net profit fall 45.5 per cent to $33.6 million in the first half even though group sales rose 5.7 per cent.
Managing Director Peter Birtles says the overall results reflect a solid contribution from the auto and sports divisions offset by a lower contribution from the leisure division.
Mr Birtels says the first half result was also impacted by higher depreciation and amortisation costs but the second half has started with solid sales growth and a focus on lifting gross margin.
A fully franked interim dividend of 18.5 cents per share has been declared.
