BSR Group posts strong half yearly results

By Martin Vedris

BRISBANE, NSW: The half yearly profit results to 30 September, 2009, for the national franchisor of the Betta Electrical group, BSR Australia Ltd, are reflecting a resurgence in the retail group.

BSR group general manager, Ian Brown, said the Group  posted a Net Profit Before Tax (NPBT) of $0.5 million for the six month period to 30 September, 2009, compared with an NPBT of $0.6 million for the full FY09.

Brown said the result was achieved via an increase on budgeted purchases by more than 10 per cent of the group’s retailers, new key supplier arrangements, re-negotiations with advertising partners and the opening of new retailers under both the electrical and new furniture and electrical brands.

“The Group’s position has remained consistent in the past six months in the face of challenging global circumstances and that’s a result the Board and management team is understandably proud of and will continue to protect,” Brown said.

Brown said BSR’s network continued to grow this year, particularly through the launch of the Betta Home Living program.

“This has ensured our members can offer nearly every home living requirement to a customer,” he said.

“The Betta Home Living program has provided both existing members and new retailers a stable, national furniture and electrical brand to belong to.

“We recognised 12 months ago the importance of ‘One Stop Shop’ home retailing. This is an approach that some of our retailers and partners are adopting in their day-to-day operations.

“Overall, our trading position is strong and management and the board have achieved an excellent, stable business platform to take us into 2010.”

Brown said the BSR Group had accomplished its major objectives of continuing its stability and strengthening of its balance sheet.

“In the past six months the management team set out to achieve our objectives and at our national conference in July, we announced we were on track to surpass our key performance indicators,” he said.

“The financial results speak for themselves and BSR is on track … to continue our business expansion and most importantly, reinvest in services we provide back to our retailers.”

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