Noel Leeming expecting good things

05 December 2011: Following what should be seen as a pleasing FY 2011 result released today, Noel Leeming Group is “anticipating good sales this Christmas”.

The company today lodged its financial results for the financial year ending 31 March 2011 with the Companies Office.

The results show FY 2011 earnings before interest, tax and depreciation (EBITDA) of $13.9 million and a net operating profit of $7.3 million – up 15% and 40% respectively on the previous financial year – as well as a 9.5% increase in sales.

In the current year (FY 2012), the company says it has seen “a continued momentum in its performance”, leading to an 8% growth in sales in the six months ending 30 September 2011, and, it says, “outstripping the market” to grow its market share to “an all-time high for the company of over 25%”.

                  FY2011        FY2010     Change %
                         (NZ$000s)
Sales       564,695      515,751      +9.5%
EBITDA    13,958        12,124        +15.1%
EBIT          7,287          5,199          +40.2%