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“Strong” HY for Officeworks

March 5, 2019

The Australian supplier of office products and services has revealed its Half Year financial results for the six months ended 31 December 2018.

The company’s total revenue increased by 8.2 percent, reaching AU$1.1 billion ($778.5 million/€687.4 million), while there was also an 11.8 percent increase in earnings before interest and tax (EBIT), which hit AU$76 million ($53.8 million/€47.5 million).

Officeworks also delivered strong sales growth in-store and online, which the company stated was evidence of its continued focus on the ‘every channel’ strategy, and allowing customers a choice in how they shop. There was also “robust growth” across all merchandise categories, and “strong momentum” in the B2B segment.

“Our focus on offering customers convenient ways to shop, coupled with low prices across the widest range of products, and great service from our team, is continuing to resonate,” Officeworks Managing Director, Sarah Hunter, said. “During the half, we made a number of store layout and design improvements, further enhanced the online offer, and introduced new and expanded products and services across a number of categories, including the launch of 1,200 new Print & Copy products.”

Two new stores opened during the Half Year, bringing the total number operating across Australia by the end of December to 166.

“Looking ahead, we expect variable market conditions and competitive intensity to continue,” concluded Hunter. “Off the back of a strong first half, we will continue to invest in the customer offer and building the capability of our team for the long term.”

 

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