A strong renovation market and the launch of its latest kitchen appliance line-up has helped a leading manufacturer exceed its sales forecasts.
Due to growth in sales of Omega appliances combined with the successful launch of the Neil Perry Kitchen by Omega, exclusive to Harvey Norman, Shriro Holdings has exceeded its prospectus forecast for the 2015 calendar year. The company expects an increase of 12.3% in Net Profit After Tax (NPAT), based on a rise in sales revenue from $177 million to $187 million.
Omega ambassador, Neil Perry with Shriro general manager of retail appliances, Craig Handley
Directors expect NPAT rise to $11 million, exceeding the forecast by approximately 10% and increasing 23% year-on-year. The strong performance is largely attributable to the strongly performing Blanco Sinks range, Omega Appliances and the Watch division.
Shriro CEO, Mike Westrup said, “Our sales growth over the last three month has provided us with strong momentum heading into the all-important Christmas season. We are very pleased with the performance of the Casio G-Shock watches, as well as the new Blanco sink range, which has seen our sales of sinks almost double over last year.”
“We continue to design, develop, brand, source, distribute and sell our diverse portfolio of kitchen appliances and consumer products, which has allowed us to stay ahead of evolving consumer trends,” he said.
Meanwhile, the company has continued to improve the speed and efficiency of its product distribution through its seven warehouses across Australia and New Zealand.