Holdsport earnings rise 21.3% in challenging retail landscape

4 May 2016

Holdsport has navigated its way through the challenging retail landscape, posting a double-digit growth in full-year profit.

Holdsport CEO Kevin Hodgson.

Image source: Financial Mail

The sport goods retailer on Monday posted a 21.3% rise in core headline earnings per share to 548.7c in the year to February, from a year-earlier period.

The company, which runs the Sportsmans Warehouse and Outdoor Warehouse stores, saw its total sales rise 11.8% to R1.7bn in the review period.

Holdsport’s portfolio also includes Performance Brands, a wholesale business that houses the First Ascent and Capestorm brands.

Group like-for-like retail sales grew 9.4% while the retail divisions experienced price inflation of about 8.1% for the year.

The local retail sector is beset with tough trading conditions, which include low economic growth and rising inflation, which eat into consumers’ disposable income.

Holdsport declared a final dividend of 200c per share, up 21% from a year ago.

Source: Business Day

Source: I-Net Bridge

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