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Officeworks delivers positive progress in 2019

August 28, 2019

The Australian office products retailer reported an eight percent increase in total revenue to $2.3 billion (€2.07 billion) for the full year to 30 June 2019.

The retailer reported a 7.1 percent increase in earnings before interest and tax (EBIT) to $167 million (€150 million). Return on capital increased from 16.6 percent to 17 percent as the business continued to invest in products and services to support growth.

Officeworks said that ‘the every channel’ strategy continues to resonate well with customers, delivering strong sales growth in both stores and online. Positive momentum in the B2B segment was maintained with more customers choosing Officeworks to help them start, run and grow their business.

Sales momentum was underpinned by investment in new and expanded product ranges, online enhancements and improvements to the click and collect experience, Officeworks added.

Officeworks Managing Director, Sarah Hunter, said: “Providing an easy and engaging customer experience also remained a strong focus throughout the year. Our customers told us our service continued to improve, with strong satisfaction results.”

It has been a year of positive progress for Officeworks, opening its biggest store in Mentone, Victoria, acquiring Geeks2U, launching a new paid parental leave policy ‘Growing Families’, reducing its carbon emissions by seven percent, celebrating its 25th birthday and with the support of its customers, raising $4.1 million (€3.69 million) for its national partners and local community groups.

During the year, four new stores were opened and two stores were closed. At 30 June 2019, there were 167 stores operating across Australia.

“Great progress has been made, but we’re not being complacent. We’re refreshing our strategy and making focused investments to enable us to better meet our customers’ needs as their expectations change. This will ensure we can continue to drive growth and improve productivity to deliver satisfactory returns to our shareholders over the long term,” Hunter said.

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