Adairs Group has reported a 6.5 per cent year-on-year increase in sales, reaching $618.1 million. This growth was fuelled by record sales at Adairs and strong performance from its online brand, Mocka. Adairs is a leading Australian retailer of homewares and furniture. Mocka is an online retailer specialising in furniture and home decor.
Underlying earnings before interest and tax (EBIT) for Adairs and Mocka saw substantial increases of 21.2 per cent and 21.1 per cent, respectively. However, this positive momentum was countered by a $6.8 million decline, or 36.6 per cent, in EBIT for its Focus on Furniture brand. This downturn at Focus on Furniture resulted in stable overall group earnings.
The company announced to investors a net profit of $25.7 million, down from $31.1 million. Despite the profit decrease, Adairs Group is moving ahead with its dividend plans. A final fully franked dividend of 4 Australian cents per share will be declared, bringing the total dividends for the financial year to 10.5 Australian cents per share.
According to Chief Executive Officer Elle Roseby, the financial year marked the beginning of a strategic reset for the Group. Solid top-line growth and strong EBIT results at Adairs and Mocka were delivered, while building a foundation for future performance improvement at Focus on Furniture. She said these early steps are part of a broader transformation program that will position the group for sustainable, customer-led growth.
