Super Retail goes into overdrive
The consumer's love affair with cars, fishing, boating and BBQs has helped Super Retail Group triumph over an otherwise downtrodden retail sector to deliver its seventh straight year of double-digit profit growth.
Super Retail said it had recorded robust store sales across its three flagship divisions, Supercheap Auto, BCF and Rebel/Amart, and was now positioning itself to develop a category killer digital platform to ensure the profits keep rolling in.
Super Retail, which last year emerged as one of the biggest forces in discretionary retail when it paid $610 million for sports and leisure chain Rebel, reported full-year profits up 23 per cent to $102.7 million.
The result included 52 weeks ownership of the Rebel and Amart business, and together with its cars accessories, boating, fishing, camping and cycling stores Super Retail saw revenue for the 2013 year jump 22.1 per cent to $2.02 billion.
Super Retail has shot up through the ranks of retailers since its 2004 sharemarket float when it had sales of $383.2 million and a profit of only $2.08 million.
Chief executive Peter Birltes said despite a prolonged downturn in consumer confidence, customers were happy to open their wallets to pursue their favourite leisure activities. "We believe our customers will continue to spend on their passions even when they tighten their belt in other areas," he said.
During the year Super Retail invested $53.9 million in its IT infrastructure. It declared a fully-franked final dividend of 21¢ per share, payable on October 2. It takes the full-year payout to 38¢, up 18.8 per cent.