Super Cheap Auto Group Ltd (ASX:SUL) has posted an 18.4 per cent increase in annual profit to $38.1 million for the 53 weeks to 3 July.
Revenue from continuing operations increased 13.2 per cent to $938.8 million.
For the year the retailer delivered a $35.9 million reduction in net debt, and invested $32.9 million in new and refurbished Supercheap Auto and BCF Boating Camping Fishing stores.
In May the group acquired Ray's Outdoors for $53.2 million.
Managing Director Peter Birtles says the group has delivered record sales and profit results while continuing to improve operations.
Adding, progress made in category and supply chain management over the past few years has been a major driver of like-for-like sales growth, margin improvement and a reduction in working capital per store.
A dividend of 13 cents fully franked has been declared.
Super Cheap Auto Group reported a profit of $32.14 million for the year to 30 June 2009.
SUL Price at posting:
$5.45 Sentiment: None Disclosure: Held
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