Business

Refreshed Super Retail lifts FY profit 62%

Rebel Sport, Rays, and Supercheap Auto owner Super Retail Group has boosted net profit substantially in the 2017 financial year.

Super Retail Group - owner of Rebel Sports, Rays and Supercheap Auto - has lifted full-year net 62 per cent to $101.8 million, helped by a transformation and expanding margins in all its three major divisions.

Revenue for the 52 weeks to July 1, 2017 was up 1.8 per cent to $2.47 billion as chief executive Peter Birtles said transformation initiatives over the past two years had delivered strong returns.

Super Retail's restructure included turning 12 of 38 former Ray's Outdoors stores into BFC (Boating Camping and Fishing) stores while 15 Ray's Outdoors stores are being converted to a new Rays brand.

Earnings for the leisure division, which includes the outdoor stores, lifted by 36.6 per cent, while auto earnings grew 6.1 per cent and sports earnings lifted 17.4 per cent.

"It is particularly pleasing that we were able to maintain the positive momentum of the group through the second half of the year despite the softer consumer environment," Mr Birtles said.

The company said it has made a solid start to the new financial year with each division delivering positive like-for-like sales growth in the first seven weeks.

Super Retail will pay a fully franked final dividend of 25 cents per share, up 3.5 cents.

Shares in the company were up 8.4 per cent to $8.49 at 1026 AEST.

PROFIT BOOST FOR SUPER RETAIL GROUP:

* Full-year profit up 62.1 per cent to $101.8 million

* Revenue up 1.8 cent to $2.47 billion

* Fully franked final dividend of 25 cents per share, up 3.5 cents

Stay up to date with SBS NEWS

  • App
  • Subscribe
  • Follow
  • Listen
  • Watch