Adairs (ASX:ADH) report NPAT up 233.4%

Company News

by Rachael Jones

Homeware store Adairs (ASX:ADH) today released its results for the half year showing record sales and profitability at a time when its 43 Greater Melbourne stores were closed for almost half the period due to COVID-19 related restrictions.

Statutory NPAT is up 233.4 per cent to $43.9 million compared to the same corresponding period.

Sales and underlying EBIT exceeded the December 2020 guidance after adjusting for the $6.1 million repayment of the JobKeeper wage subsidy benefit.

The Company will repay the JobKeeper wage subsidy benefit for the period ($6.1 million) to the Government.

Shares in Adairs (ASX:ADH) are trading 2.62 per cent higher at $4.31.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.