Partly readsStrathfield Group Limited (Strathfield) is pleased...

Partly reads

Strathfield Group Limited (Strathfield) is pleased to report a NPAT for the 52 weeks ended 1 July 2007 of $3.4 million compared to a loss of $5.3 million for the corresponding period last year.
Operating Revenue increased to $171.8 million up 10.6%.
This result was achieved through focusing the business on its strong heritage of car and mobile, whilst improving the profitability of the digital product range. This has produced a comparative store growth of 8.4% which, when combined with cost reductions and the franchising programme, has delivered this strong improvement in NPAT.
In terms of distribution, management are continually monitoring the performance of the stores. In the past year, seven underperforming stores have been closed and two new stores opened. The Company has also franchised 13 stores in the first year of the franchising programme. This has now increased to 16 stores since year end and a further four stores are under
contract to be franchised by mid October 2007.
Outlook
Strathfield continues to show benefits from the restructure and the directors and management are looking forward to an even stronger performance in 2008. Sales for July 2007 are up to 12.1% on the comparative period last year. Also, on 2 July 2007 the
company implemented a new Point-of-Sale and Inventory/Finance system to replace the current system. This will assist to improve stock returns, reduce shrinkage, and improve margins and overall management of the costs within the group.