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.