Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
- Joined
- 11 January 2016
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- 15,592
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- 21,197
"Solid Year at top of Guidance"
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• Solid revenue growth against a subdued consumer backdrop and building on three strong years of growth in FY20-22 of 25.3%, 24.7% and 19.4% respectively
• 2H23 revenue growth rate stepped up to 9.4% led by EMEA recovery
• Gross profit grew by 6.4% (2H23 10.6%) with gross margins strengthening as inflationary costs were recovered and promotions well controlled
• Operating costs aligned to deliver EBIT at top end of guidance with 10.0% growth over PY
• NPAT grew in line with sales at 4.2% after absorbing higher financing costs
• Overall reported inventory was relatively flat, with core inventory managed down $96.6m through reduced 2H23 purchases rather than discounted sales. Further inventory reduction expected in FY24
• Full year dividend of 30.5c cents per share (100% franked)
• Seasonal cash inflow in 2H23 of $90.9m and full year outflow of $(117.2)m primarily due to acquisition of Lelit and higher year-end receivables following strong Q4 sales
Commenting on the Group’s result, Breville Group CEO, Jim Clayton said:
“A solid year of performance for the Group, delivering guidance once again, against a challenging and dynamic backdrop with a subdued consumer, inflationary headwinds, a strong denominator, and retailer destocking..."
.
• Solid revenue growth against a subdued consumer backdrop and building on three strong years of growth in FY20-22 of 25.3%, 24.7% and 19.4% respectively
• 2H23 revenue growth rate stepped up to 9.4% led by EMEA recovery
• Gross profit grew by 6.4% (2H23 10.6%) with gross margins strengthening as inflationary costs were recovered and promotions well controlled
• Operating costs aligned to deliver EBIT at top end of guidance with 10.0% growth over PY
• NPAT grew in line with sales at 4.2% after absorbing higher financing costs
• Overall reported inventory was relatively flat, with core inventory managed down $96.6m through reduced 2H23 purchases rather than discounted sales. Further inventory reduction expected in FY24
• Full year dividend of 30.5c cents per share (100% franked)
• Seasonal cash inflow in 2H23 of $90.9m and full year outflow of $(117.2)m primarily due to acquisition of Lelit and higher year-end receivables following strong Q4 sales
Commenting on the Group’s result, Breville Group CEO, Jim Clayton said:
“A solid year of performance for the Group, delivering guidance once again, against a challenging and dynamic backdrop with a subdued consumer, inflationary headwinds, a strong denominator, and retailer destocking..."