Beacon Lighting profit up 22pct

Beacon Lighting's first half sales have increased 11.7 per cent with solid same store sales growth driving profit up to $11.1 million.

Beacon Lighting's profit has risen 22 per cent to $11.1 million for the half year.

The lighting retailer says same store sales growth of 5.1 per cent in the six months to December 27 and reduced operating costs were behind the result, with strongest growth from its Queensland and New South Wales' stores.

However, same store sales grew at a slower pace compared to the 2015/16 first half growth of 11.7 per cent.

Total sales increased 8.5 per cent to $98.5 million thanks to new store openings and franchised store acquisitions, and operating costs dropped by 0.5 per cent as a percentage of sales.

Beacon Lighting says it introduced 205 new fashion, on-trend and technologically advanced products in the half and it expects continual sales growth in the second half.

The company is also on the hunt for acquisitions.

Shares in Beacon Lighting were down 2.5 cents at $1.97 at 1445 AEDT.


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Source: AAP



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