The Directors of Edgars Stores Limited are pleased to announce the release of the Group’s 2011 interim results for the 26 weeks ended 9 July 2011. Below are financial highlights and a brief extract from the Commentary section of the results.
- Retail sales up 94% to $19,6m
- No of debtors accounts increase 113% to 133 598
- Trade & other receivables up 230% to $14,0m
- Earnings up 180%
- Unit Sales up 54% to 1,4m
- Trading profit up 1 028% to $2,3m
The account growth achieved by the Edgars Chain last year provided a larger sales platform which, together with wider merchandise assortments and improved productivity, resulted in increased profitability for the first half of the year.
The Edgars Chain achieved an 111.4% growth in turnover with margins improving to 52.7% compared to 51% last year…