Adairs (ASX:ADH) profit increases 19% for year

Company News

by Kathy Skantzos

Bedding company Adairs (ASX:ADH) reports a 19 per cent lift in FY2020 net profit after tax of $35.3 million compared to a year ago.

Group sales increased 12.9 per cent to $388.9 million.

EBIT rose 35.6 per cent to $59 million and earnings per share were up 17.3 per cent at 21 cents.

The retailer declared a final dividend of 11 cents a share.

Adairs has not yet provided guidance for the coming year.

Shares in Adairs (ASX:ADH) are trading 17.15 per cent higher at $3.21.

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.