Breville (ASX:BRG) shares up almost 5% on robust FY22 results

2 min read | August 23, 2022 01:44 PM AEST | By Bhawna Gupta

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Breville (ASX:BRG) shares up almost 5% on robust FY22 results — Image source: © Natazhekova | Megapixl.com

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Highlights

Breville recorded revenue of AU$1.4 billion in FY22, which increased 19.4% from FY21.

It announced a dividend of 30.0 cents per share for the entire year.

The company’s shares were 4.66% up at AU$22.47 each on ASX at 11.09 AM AEST today.

Consumer industry giant Breville Group Limited (ASX:BRG) today (23 August 2022) shared its full-year result for the period ended 30 June 2022.

Following the news, shares of Breville were spotted trading in green and at 11.09 AM AEST, the company shares were 4.66% up at AU$22.47 each.

This outperforms ASX 200 Index, which was 0.45% down at 7,015.30 points at 11.11 AM AEST.

A look at Breville’s FY22 report

Breville recorded revenue of AU$1.4 billion in FY22, which increased 19.4% from FY21.
As consumers and retailers reacted to the invasion of Ukraine, the 2H22 revenue growth rate slowed to +13.2%, somewhat offsetting sales acceleration in the Americas.
The company's EBIT projection was maintained at AU$156 million and was met, resulting in another year of double-digit profit growth.
The worldwide division showed pricing strength, which helped to manage gross margins and counterbalance an inflationary background of rising freight and product prices and a strong USD.
Breville announced a fully franked dividend of 30.0 cents per share for the entire year.
Cash outflow as inventory is brought back into 1H23 to de-risk the supply chain before the peak season, and working capital is rebuilt to equilibrium levels.
ROE continues to show strong returns on invested capital.

Segment Results

With Nespresso back in stock, Brevelle experienced strong sales growth in the mass market Distribution category, which was offset by slower growth for its mass-market Kambrook brand.

Given the lower retail value per shipping unit and greater shelf price sensitivity, inflationary pressures on gross margins were particularly pronounced in this market category. It's significant to note that the Distribution segment's strategic function of creating profits for reinvestment in expanding the Global Product segment was once more successfully managed.

Data Source- Company announcement dated 23 August 2022

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