HALF YEAR 2020 RESULTSSOLID RESULT DESPITE MACRO...

HALF YEAR 2020 RESULTS
SOLID RESULT DESPITE MACRO HEADWINDS
EBITDA1 $113.1 million (-0.4%)
Net Profit After Tax1 $41.5 million (+0.4%)
Net cash improved $65 million to $103 million
1H20 RESULTS (pre-AASB 16) for the 26 weeks to 25 January 2020, compared to 1H19:
• Total sales2 down 3.8% to $1.607.9 million; comparable store sales up 0.4% excluding Apple and
Country Road Group sales
• Online sales3 up 25.2% to $168.2 million, now representing 10.5% of total sales
• Operating Gross Profit (OGP) margin increased by 62 basis points to 39.14%
• Cost of Doing Business1 down 2.6% to $516.1 million
• Implementation Costs and Individually Significant Items of $13.4 million (post-tax) associated with
implementation of the Customer First Plan, including closure of the clearance floor concept and
support office simplification
• Statutory NPAT of $24.4 million (post-AASB 16)
• Operating cash flow (before interest & tax) decreased by $8 million to $179 million, total net cash at
the end of the period increased by $65 million to $103 million compared to 1H19

Almost half the market equity inn cash!!!!