BSR, the retail group formed by disenfranchised Betta Stores Limited members when the chain when into administration and then receivership in late 2006, has just announced that its profits for the half-year ended 30 September “exceeded expectations” in a fickle electrical retailing industry.
National franchisor BSR Australia Limited, the parent entity of the BSR Group, has declared an interim dividend of 10c per share representing a return of ten per cent over six months, said the retailer.<\/P>
The company which brings us the Betta Electrical and Chandlers stores announced a profit before tax of $0.8 million, which “comfortably exceed the company’s budget for the period,” it said. <\/P>
BSR Australia general manager, Ian Brown, said the result was due to the hard work done by the company and its members to meet the buying and marketing needs of its retailers.<\/P>
<\/DIV>
“During the past year, the company has strengthened its balance sheet and we are now expanding the business and reinvesting in infrastructure and the services that we provide back to our retailers,” he said.<\/P>
“The Group’s aim is to maintain a strong balance sheet to enable future investment in value-added retailer services such as IT infrastructure, marketing and brand development.”<\/P>
The strong performance was fuelled by turnover generated during recent conference buying periods and improved like-for-like sales at a retailer level.<\/P>
“Individual retailers of the Group have also enjoyed an increase in the level of returns paid to them by the company in the form of electronic and printed advertising, marketing and promotional campaigns, direct rebate payments, core bonus incentives and IT infrastructure services,” said Brown.<\/P>
<\/DIV>
“This level of return represents a ‘pass back’ to retailers of more than 64 per cent of the Group’s total income for this six-month period, an increase of 6 per cent on the previous five month trading period which ended 31 March.”<\/P>
Ten new franchises joining the company in Queensland, Victoria and New South Wales during the six-month trading period.<\/P>
“This result is obviously an excellent platform to grow our business from in the coming year, with further new members to be announced in coming months,” said Brown.<\/P><\/p>\n","protected":false},"excerpt":{"rendered":"
BSR, the retail group formed by disenfranchised Betta Stores Limited members when the chain when into administration and then receivership in late 2006, has just announced that its profits for the half-year ended 30 September “exceeded expectations” in a fickle electrical retailing industry.<\/p>\n","protected":false},"author":100,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,179],"tags":[],"class_list":["post-82859","post","type-post","status-publish","format-gallery","hentry","category-archive","category-retail","post_format-post-format-gallery"],"yoast_head":"\n
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