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Officeworks releases positive financial results

February 27, 2018

The supplier has posted its results, showing its twentieth successive half of store transaction growth.

Australian office products supplier Officeworks has released its latest financial results for the second half of 2017, from the beginning of July to the end of December. The results point towards a productive period for the company, which has 165 stores across the country.

Officeworks’ total revenue increased by 9.7 percent on the same period the year before, to reach AU$1.01 billion ($791.8 million/€642.8 million). There was also an increase in sales, which grew 9.8 percent on the previous year, helped in part by an increase in the second quarter of 11.8 percent.  EBIT, or earnings before interest and tax, increased by 9.7 percent also, reaching AU$68 million ($53.3 million/€43.2 million).

The results continue an encouraging trend for the company, with this 20th consecutive half of store transaction growth. They also represent a double-digit increase in both online sales and transactions.

“We are pleased that our strategy of offering low prices on the widest range of products and brands in the categories that are most important to our customers is continuing to resonate, and is complemented by great service across every channel,” said Managing Director Mark Ward. “The investments that we are making in-store and online are helping our team to deliver our customers a seamless and convenient experience, whether they choose to shop in-store, by phone, online, or Click & Collect. We are also pleased with customers’ feedback on our recently expanded service offerings, including the enhanced Print, Copy & Create, and our range of prepaid services for small business customers looking to start, run or grow their business.”

“Looking ahead,” Ward continued, “we remain focused on continuing to strengthen and expand our offer and extend our every channel reach as we continue to help our customers make bigger things happen.”

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