Adairs profit lifts on the back of online sales and category expansion

Company News

by Anna Napoli

Adairs (ASX:ADH) has announced its half year results for financial year 2019 with profit, revenues and earnings all rising on the year earlier period.

Net profit after tax (NPAT) increased by 9.1 per cent to $14.9 million.

The company says the rise in net profit came on the back of a terrific online result combined with progress in category expansion.

Revenue lifted from $149 million to $164 million.

Its earnings before interest and tax (EBIT) increased 7.2 per cent to $21.9 million.

Like for like sales rose 7.3 per cent over the six months.

Adairs Interim FY19 dividend up 18 per cent to 6.5 cents per share fully franked, to be paid on 17 April 2019.

The company says the result highlights the potential for further growth with strong growth in both sales and profitability.

Shares in Adairs (ASX:ADH) Shares closed 10.27 per cent higher to $2.04 on Friday.