Super Cheap Auto Group (SUL) achieves 17% sales growth for the 16 Weeks to 23 October 2010. Super Cheap Auto Group Limited (ASX: SUL) today announced that sales for the 16 weeks to 23 October 2010 had grown by 17% over the prior year's comparative period.
27 October 2010
ASX/Media Announcement
Super Cheap Auto Group (SUL) achieves
17% sales growth for the 16 Weeks to 23 October 2010
Super Cheap Auto Group Limited (ASX: SUL) today announced that sales for the 16 weeks to 23 October 2010 had grown by 17% over the prior year's comparative period.
Sales performance across the Group was as follows:
| 16 weeks to 23 Oct 10 | 16 weeks to 24 Oct 09 | Total growth % | Like for like growth % | |
| Supercheap Auto | 203.9 | 194.9 | 4.6 | 2.8 |
| Goldcross Cycles | 5.1 | 5.7 | (10.4) | |
| Auto and Cycle Retailing | 208.9 | 200.6 | 4.2 | |
| BCF (Boating Camping Fishing) | 71.4 | 62.0 | 15.0 | 3.0 |
| Ray's Outdoors | 26.4 | - | - | |
| Leisure Retailing | 97.8 | 62.0 | 57.7 | |
| Group | 306.7 | 262.6 | 16.8 |
Super Cheap Auto Group Managing Director Mr Peter Birtles said the company had made a strong start to the year, with both established businesses, Supercheap Auto and BCF, delivering solid like for like sales growth and continued improvements in underlying gross and EBIT margins.
"This level of like for like growth is pleasing given we are comparing it with the prior comparative period of exceptional growth during which sales were boosted by the final stages of the Government stimulus package," he said.
"We expect the general outlook for retail trading will remain uncertain in the lead up to Christmas however we believe that increasing confidence will start to drive retail spending in the second half of the coming year.
"We plan to open between 10 to 15 new stores in the Auto and Cycle Retailing division and around 20 stores in the Leisure Retailing division during the financial year.
"We also plan to refurbish another 30 Supercheap Auto stores, including three as Superstores, close two Supercheap Auto stores and relocate a number of Goldcross Cycles stores."
Mr Birtles said the Group's plans for Ray's Outdoors integration were on track and the company was confident of delivering the synergy benefits expected at the time of the acquisition.
"We have already fully implemented the Group's POS, SAP and Warehouse management systems across all the Ray's Outdoors stores, the distribution centre and the support office," he said.
"We have also opened two new Ray's Outdoors stores in the last month and we expect to open another four or five stores before Christmas."
For further information please contact:
| Peter Birtles | Gary Carroll |
| Managing Director | Chief Financial Officer |
| Super Cheap Auto Group | Super Cheap Auto Group |
| Ph: 07 3482 7500 | Ph: 07 3482 7500 |
Released through:
Stephanie Paul
Managing Director
Phillips Group
Ph: 07 3230 5000
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