Chief executive Mark Ronan said while many trading days were lost in 2022, the brands are well positioned for the value conscious consumer.
supported by its recent aquisition of Focus on Furniture, but profits were hit by supply chain disruptions because of COVID-19 which pushed costs higher.
Statutory net profit after tax was $44.9 million, a fall 29.6 per cent, and earnings also fell by about 30 per cent.Group gross margins were significantly lower, falling 520 basis points to 59.6 per cent. The Focus and Mocka brands are lower margin businesses, but margins were squeezed by Adairs transition to a new distribution centre which cost $6 million in additional costs.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Further rail strikes across Great Britain ‘very likely’, warns RMT chiefOn latest day of strikes, Mick Lynch says Network Rail and union members are no closer to a deal
Read more »
‘Deplorable’: Minister condemns comment by senior police officerPolice Minister Mark Ryan has condemned lewd comments made by Queensland Police chief superintendent Ray Rohweder as ‘deplorable’ and “not meeting the high standards expected of police officers.”
Read more »
Rose Bay’s $45 million trophy home Villa Florida subject to demolition DACoverforce’s Jim Angelis lodges $18 million plans in Rose Bay; Transurban chief Scott Charlton sells his Castlecrag home for $23.5 million; and former NAB chief Cameron Clyne lists his Vaucluse digs.
Read more »
Russian missiles hit Ukraine's Odesa region, Zelenskyy adviser denies responsibility for Darya Dugina killingThe Russian missile hit comes ahead of celebrations that mark 31 years of Ukraine's independence from Soviet rule.
Read more »
'Hatred — have you heard of that?': Why the Carlton-Collingwood rivalry still burns fiercelyAs we get ready for today's blockbuster at the MCG, Carlton and Collingwood figures Mark Maclure and Mick Malthouse talk about the rivalry between the two traditional heavyweights, and why it endures.
Read more »
Investigating Diana: Death in Paris review – like Making a Murderer meets the royalsTo mark the 25th anniversary of the princess’s death, Channel 4 give events a lengthy true-crime treatment. How will they commemorate the 50th?
Read more »