Adairs Ltd (FRA:1FQ)

€ 1.17 0.02 (1.74%) Market Cap: 208.02 Mil Enterprise Value: 365.86 Mil PE Ratio: 9.48 PB Ratio: 1.48 GF Score: 86/100

Half Year 2022 Adairs Ltd Earnings Call Transcript

Feb 21, 2022 / 12:00AM GMT

Release Date Price: €1.81 (-5.73%)

Transcript

Operator

Thank you for standing by, and welcome to the Adairs Limited Release of the First Half FY 2022 Results Call. (Operator Instructions)

I would now like to hand the conference over to Mr. Mark Ronan, Managing Director and CEO. Please go ahead.

Mark Ronan

Adairs Limited - MD, CEO & Executive Director

Good morning, everyone, and welcome to the Adairs' first half 2022 results call. Joining me this morning on the call is Ash Gardner, our CFO; and Jamie Adamson, our Head of Investor Relations. The first half of FY '22 saw Adairs take deliberate steps towards establishing a multi-brand homewares group aimed at the middle market consumer. This is a customer who is generally more engaged with and has a higher spending capacity in the Australian market. When I think about the first half, Adairs continued to execute on its growth strategy through the opening of 2 new stores and upsizing it about 4 stores over the half, resulting in Adairs gross lettable area increasing by 3.8%. The continued growth in the Linen Lover membership base, despite the impact of

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