Gowing Brothers (ASX:GOW) boosted by Surf Hardware International earnings

Company News

by Katrina Bullock

Gowing Brothers (ASX:GOW) says profit after tax for the half year ended 31 January was up 37 per cent to $5 million.

Total revenue fell 1.4 per cent during the period to $32.7 million.

The company says most of its retail partners are trading on par with, or better than, their pre-pandemic levels.

Surf Hardware International in particular has been a major beneficiary of the pandemic given the stimulus spending, the appreciating Aussie dollar and the new trend of holidaying close to home. It boasted record sales and earnings for the half.

The group has declared an interim 3 cent fully franked dividend, and a 1 cent special dividend from Surf Hardware International’s strong performance.

Shares in Gowing Brothers (ASX:GOW) are trading 6.2 per cent higher at $2.07.