Shaver Shop Group Limited (ASX: SSG) - Shaver Shop’s sales up but profit down by 27%.

  • Aug 23, 2018 AEST
  • Team Kalkine
Shaver Shop Group Limited (ASX: SSG) - Shaver Shop’s sales up but profit down by 27%.

Personal Grooming retailer today reported decline of 27% in net profit after tax, bringing it to $6.6 million in fiscal year ended 30 June 2018. However, company’s total sales were up by 8.7% to $154.9 million backed by online sales growth of 47.4% along with significant improvement in like-for-like corporate store sales.

EBITDA records double-digit percentage decline to yield $12.2 million in FY18, which includes one-off cost incurred during the year. Operating cash flows almost triples to $15.4 million in fiscal 2018.

Despite having reduced contributions from Daigou channel sales, company managed to open 8 new stores during the reporting period.

The board declared final dividend of 2.4 cents, fully franked, payable on 31 October 2018.

As per the statement by CEO Mr. Fox, the company is coming up with its new brand in hair styling, “Flair”, in second quarter of FY19.

SSG stock plunged by 21.739%, trading at $0.450 post results release on Thursday 23 August 2018.

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