Rebel's parent company defies the retail slump, its shares soar

Robert Cianflone/Getty Images
  • Super Retail Group full year statutory net profit after tax up 26% to $128.3 million.
  • Sales 4.2% higher at $2.57 billion.
  • Strong lift in online sales.

The Super Retail Group, the owner of Rebel, BCF and Super Cheap Auto, posted a 26% rise in full year profit to $128.3 million, reflecting its reorganisation of divisions and its march into digital sales.

Revenue grew 4.2% to $2.57 billion.

At the close, Super Retail shares were up 8.2% to $9.86.

Sales growth was strongest online as customers shifted to omni-channel, allowing them to shop online and get their purchases either in store or at the location of their choice.

Super Cheap Auto online growth was up 85%, Rebel 152% and BCF 76%.

CEO Peter Birtles says the company has strengthened its portfolio of businesses with the merger of the Rebel and Amart Sports businesses and the acquisition of Macpac clothing and equipment stores and their merger with Rays.

Super Retail closed six Rays stores and will be converting the remaining nine Rays stores to Macpac large format stores this financial year.

“Our investment in building our omni-retail capabilities has underpinned strong growth in our on-line sales and we continue to extend our offering to our customers through additional ranges and services and improved in-store and on-line experience,” he says.

“Growing our share of customer spending in our markets is a key priority as the retail industry evolves with the impacts of new competitors and of technology.

“We aim to incrementally grow our share of customer spending in stores while significantly increasing our share of customer spending in digital channels.”

The company declared a fully franked full year dividend of 49 cents per share, up by 5.4%.

The 2018 results at a glance:

Source: Super Retail

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.