NEWS & MEDIA > FINAL RESULTS FOR THE YEAR ENDED 29 FEBRUARY 2012
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The Holdsport Limited group comprises the retail chains: Sportsmans Warehouse and Outdoor Warehouse; and Performance Brands (previously First Ascent SA), an expanding outdoor apparel and equipment wholesale business. Holdsport was listed on the JSE Limited on 18 July 2011, and this is its maiden set of final results.
The group delivered a pleasing result for the year with total sales increasing by 9.8% to R1 243.5 million and retail sales increasing by 8.7% to R1 195.9 million. The group’s core headline earnings increased by 22.5% to R167.2 million. Pro forma comparative figures have been provided to allow for a better evaluation of the group’s performance.
Holdsport has maintained strong margins through its procurement strategies and rigorous cost management. The group’s operating profit margin for the period increased from 17.3% to 18.2%, mainly as a result of profits on foreign exchange denominated transactions of R1.4 million in this financial year compared to losses of R6.7 million in the previous year.
The group opened two new stores during the period and relocated three stores, with a weighted increase in trading area of 3.0%. A final gross dividend of 115.0 cents per share has been declared, this being in line with the group’s dividend policy of two times cover by core
headline earnings, which amounted to 228.2 cents per share in the second half of the year.
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