You missed it. they said same stores were flat. "Sales increased 8% with the increased derived from a full year's contribution from [new stores] ... Same stores sales were flat for the year"
Happy. good solid clean result. No surprises - except perhaps a 20% increase in dividend which is well in excess of profit growth, cash flow growth, and despite higher capex and debt as they own more of the store infrastructure. NZ store obviously going well, "with others to follow". And with a bigger contribution from more new stores in FY19, stable gross margins, and lower costs of doing business, a continuation of very solid management, a happy holder! Bedding might provide some profit growth too
PS. I was half expecting to see some initiative with the new big shareholder - I'm pleased there wasn't, TBH.
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