Half Year 2024 Shaver Shop Group Ltd Earnings Call Transcript
Key Points
- Gross profit margin increased by 10 basis points to 44.4%, indicating effective cost management.
- Net cash position is strong at $31.9 million, supported by operating cash flow of $34.9 million.
- Declared a $0.047 per share interim dividend, fully franked, maintaining a stable payout ratio.
- Online sales remained steady at $31.1 million, representing 23-25% of total sales.
- Sales conversion rate in stores remains high at 44.8%, despite a slight decline from the previous year.
- First half sales declined by 3.7% to $127.0 million due to a more price-conscious consumer base.
- Net profit after tax decreased by 8.6% to $12.5 million compared to the previous year.
- Foot traffic in stores was down around 13% compared to the first half of 2023, significantly lower than pre-COVID levels.
- Cost of doing business increased to 23.9% of sales, up 90 basis points from the prior period.
- Employment costs rose by 5.8% due to mandated wage increases, adding pressure to operating expenses.
Ladies and gentlemen, welcome to Shaver Shop's Results Presentation and Investor Conference Call for the half year ended 31st December 2023. Please note that today's call is being recorded. There will be a presentation followed by a Q&A session. Presenting today will be Cameron Fox, Shaver Shop's CEO and Managing Director; and Larry Hamson, Shaver Shop's CFO and Company Secretary. If you wish to follow along with the slides, Shaver Shop's presentation has been lodged with the ASX and is also available from Shaver Shop's Investor Center website. I will now hand over to Cameron Fox. Please go ahead.
Good morning, all, and thank you for joining us today. Larry and I are pleased to be presenting Shaver Shop's results for the first half. There will be a short Q&A session at the end of our presentation to respond to any questions. Moving on to Slide 2 and our agenda. I will quickly run through our first half highlights. Then Larry will go into our financial
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