Beacon Lighting posts record net profit in FY18
The retailer highlighted record sales across its network of Beacon Lighting stores, as well as in its commercial and international businesses, its wholesale globes business and its Roadway and Massons for Light businesses.
Full-year group sales rose 9.7 per cent to $236 million.
“The lighting industry continues to go through a period of exciting change throughout Australia and across the world,” Beacon Lighting executive chairman Ian Robinson and chief executive officer Glen Robinson said in a note to investors.
“Given the Beacon Lighting Group maintains the strong market position as Australia’s leading lighting retailer with a number of emerging businesses, including internationally, the Group remains very well positioned to take advantage of the industry wide changes that are occuring.”
The group finished the financial year with 103 company stores and 6 franchised stores, with new stores opening in Carlton, Bayswater, Crows Nest, Gladesville, Mentone and South Morang, three of which were converted independent lighting stores.
Company store comparative sales increased 0.9 per cent; however, the 69 comparative company stores that were not impacted by new store openings achieved a comparative sales increase of 3.8 per cent.
Looking forward, the group plans to open another six company stores in Australia per year, while pursuing complementary local and international business opportunities.
The group also plans to introduce a new range of internet-enabled voice and phone activated lighting products and smart lights.
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