Super Retail Group (ASX:SUL) revenue jump expected for FY2020 as sales increase

Company News

by Kathy Skantzos

Super Retail Group (ASX:SUL) expects to report an increase in revenue, earnings and profit for FY2020, with the group reporting sales growth despite the impacts of Covid-19.

Total group sales increased by 4.2 per cent, with Supercheap Auto, Rebel and BCF all reporting sales jumps through the year, with Macpac the only brand seeing a decline in sales.

The company said it expects to report revenue of $2.82 billion, up from $2.71 billion in the previous financial year, based on preliminary unaudited results.

Chief Executive and Managing Director Anthony Heraghty said: “Given the volatile trading environment, we are very pleased with these results. The group’s omni-retail channel business strategy has enabled our businesses to adapt quickly to changing consumer behaviour during Covid-19 and delivered a resilient trading performance.

"We look forward to updating the market with further detail on our 2019/20 financial results at our full year results presentation." 

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Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.