Best and Less Hit $622.2 Million In Revenue – Update 2023
As per the last report by Best and Less Group, the company made a revenue of about $622.2 million. Though the revenue in FY22 seems to be lower compared to FY21 which made $663.2 M (i.e. -6.2%). If noticed, the Gross Profit of $305.4 Million has been the 2nd highest in the entire journey of Best and Less in Australia.
| Pro forma financial summary | FY22 |
| Revenue ($m) | $622.2 Million |
| Gross profit | $305.4 M |
| Gross profit margin (%) | 49.1% |
| Total CODB | $242.9 M |
| EBITDA | 62.5 |
| EBITDA margin (%) | 10% |
| NPAT | 41.1 |
| Key metrics: | |
| Number of stores | 242 |
| Online sales growth (%) | +15.6% |
| LFL revenue growth (%) | -0.7% |
| Trading days lost | 9,679 |
Overall Best & Less Financial Performance (Past 3 Years)
To add on:
The company has a healthy financial position with a strong cash flow and balance sheet, and a net cash position of $36.7 million.
Best&Less has declared a final dividend of 12 cents per share, which is fully franked. This brings the total dividend for the year to 23 cents per share, resulting in a fully franked dividend yield of 8.8% and a payout ratio of 79.8%.
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