Vacuum cleaner retailer Godfreys recorded a half year NPAT of $5.4 million and sales increased to $90.6 million, a 3.5 per cent improvement on the corresponding period in the previous year.
The company, which was listed on the ASX in December 2014, says it is on track to meet its forecast full year pro forma NPAT of $12.2 million thanks to successful new product launches, store openings and a strong January 2015 trading result. Hoover Allergy Bagged and Bagless products were singled out for their strong performance for the retailer.
“Godfreys greatest strength remains our people and strong sales culture, built on the principles of understanding customer needs, product knowledge and sales technique. We pride ourselves on being at the cutting edge of product development and innovation and have an exciting array of new products to be launched in the remainder of the year,” said Godfreys CEO Tom Krulis.
The company opened seven new stores during the half, converted five franchise stores to company-owned stores and closed three franchise stores, taking the total number of stores to 210 (128 company owned and 82 franchises) across Australia and New Zealand. An additional six stores are set to open in the second half.
“Optimisation of our store portfolio will continue to be a key driver of our growth and during the period we opened our new concept store in Traralgon Victoria which is setting a new standard,” Krulis said.