Officeworks revenues up 20.4%
August 20, 2020
The Australian office supplier reports year end earnings up 13.8% at AU$197 million ($141.4 million/ €119.2 million), but 2021 outlook is uncertain, and staff go on strike.
Australia based Officeworks, part of the Wesfarmers Group, reports year end revenues up 20.4% at AU$2,787 million ($2,000 million/ €1,686 million) and profits up 13.8% at AU$197 million ($141.4 million/ €119.2 million).
The company said: “the second half was underpinned by its most successful back to school trading period, as well as a significant increase in demand due to customers establishing and maintaining their work and learning spaces at home.”
Officeworks Managing Director, Sarah Hunter, said: “We have delivered strong growth and positive progress against our strategic agenda over the past 12 months. We were able to play a unique role providing essential products and services to Australians as they adjusted to new ways of working, learning and running their businesses.”
The outlook for the 2021 financial year is uncertain, with changing customer shopping patterns and COVID-19 measures expected to impact trading conditions.
Officeworks distribution employees in Victoria and New South Wales have a 24-hour stoppage on Monday 24 August. Approximately 275 workers will take part in the 24-hour stoppage. The distribution centres replenish the stock in Officeworks stores and fulfil online customer orders across the country.
Workers have voted to take protected action for secure jobs and redundancy provisions amid concerns about the future outsourcing of their work on inferior wages and conditions. To date, Officeworks has offered sub-inflation wage increases with cuts to overtime penalties and no protection for future job security. This comes at a time when Officeworks is recording record pandemic profits; increased sales totals of 27% in the past five months.
As frontline essential workers, Officeworks distribution centre workers have continued to work throughout the pandemic even as the company recorded three positive COVID-19 cases in the distribution centres. Workers are asking Officeworks to acknowledge their hard work and dedication with a reasonable wage offer and job security assurances.
Workers are also calling for community members to support the action by not shopping at Officeworks, either online or in person, on Monday 24 August.
Categories : City News
Tags : Australia Financials Officeworks
