AAP Finance

Super Retail Group reports strong 1H sales

By AAP Newswire

Jan 16, 2023

A BCF sign — Supercheap Auto, Rebel and BCF owner Super Retail Group has reported strong first-half growth. -AAP Image

Super Retail Group shares are surging after the Supercheap Auto, Rebel, BCF and Macpac owner reported record sales performance in the first half of 2022/23, including 11 per cent like-for-like sales growth.

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The retailer said on Monday it expected to announce $1.96 billion in first-half revenue and a profit before tax of between $212 million and $218 million once its audit is finalised.

Group CEO Anthony Heraghty called it an "outstanding first half result" with customers embracing the festive season, leading to strong trading over the peak cyber sales and Christmas holiday period.

Macpac was the standout performer of the company's divisions with 54 per cent like-for-like sales growth, compared to the same period a year ago.

Supercheap Auto sales grew 15 per cent and Rebel's were up 11 per cent.

BCF (Boating, Camping and Fishing) dipped two per cent on a same-store basis but overall sales were up seven per cent.

Super Retail Group said its inventory was well-managed, with $30 million less in stock than at the same time last year.

The debt-free company will release further details on its first-half performance next month.

At 11.42am AEDT, Super Retail Group shares were up 8.9 per cent to a one-year high of $12.475.

By AAP Newswire

Australian Associated Press