Beacon Lighting posts record net profit in FY18

Beacon-LightingBeacon Lighting Group has achieved record net profit after tax of $19.6 million in FY18, a 17.7 per cent increase from FY17.

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.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

Is the US-China trade war having an impact on your business?
Vote

Twitter

#AlceonGroup announce first Victorian @Lego_Group store to open in @WestfieldAU Doncaster #retail https://t.co/qMfYJp5WFM

3 days ago

Almost half of online marketplace @Kogan gross profit for FY19 came from its private label offering #retail #onlinehttps://t.co/lLwhKBnVp2

4 days ago

Talks of a merger between @OZretailers and @retailaustralia have come to a close, with the parties failing to align… https://t.co/hkqHyDsBkr

2 weeks ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered