Johannesburg - The owner of the Sportsmans Warehouse and Outdoor Warehouse stores, Holdsport, yesterday reported that its total sales increased by 11.8 percent to R1.73 billion in the year to February as it planned to open more stores.
Retail sales increased 12.4 percent to R1.68bn. The group’s operating profit rose by 15.8 percent to R308.9 million and core headline earnings amounted to 548.7c per share, a 21.3 percent increase from the previous year.
The group’s net debt increased to R36.6m for the year.
Sportsmans Warehouse now trades out of 37 stores – it opened two stores and closed one store.
Outdoor Warehouse comprises 23 stores – it opened two stores and relocated two stores.
The group signed lease agreements for a further two stores to be opened in the next financial year.
The group purchased 987 412 Holdsport shares during the year for R51.8m and declared a final gross dividend of 200c per share in line with its dividend policy to have dividends covered 1.5 to 2 times by the core headline earnings for the year.
Holdsport shares declined 1.64 percent yesterday to R60.
BUSINESS REPORT