- Beacon Lighting (BLX) has seen its group sales increase by 24.3 per cent in Q1 FY21 compared to Q1 FY20
- Despite COVID-19, the company has revealed retail trading conditions have been supportive of the lighting and fan product categories in all markets except Melbourne
- Its Melbourne stores have been closed to retail customers since August 6 but have remained open to process online orders and Click & Collect contact-free pickups
- Beacon saw its online sales increase by 156 per cent and international sales increase by 42 per cent
- The company’s Q1 FY21 net profit after tax grew from $2.2 million to $8.4 million
- Beacon is currently up 11.6 per cent on the market with shares trading for $1.59 each
Beacon Lighting (BLX) has seen its group sales increase by 24.3 per cent in Q1 FY21 compared to Q1 FY20.
Despite COVID-19, the company has revealed retail trading conditions have been supportive of the lighting and fan product categories.
This has been evident across all Australian markets except Melbourne.
Its Melbourne stores have been closed to retail customers since August 6 but have remained open to process online orders and Click & Collect contact-free pickups.
The company’s comparative sales, including Melbourne stores, increased by 26.6 per cent, while not including the Melbourne stores saw comparative sales increase by 37.6 per cent.
Beacon saw its online sales increase by 156 per cent and international sales increase by 42 per cent.
Additionally, its Q1 FY21 net profit after tax grew from $2.2 million to $8.4 million.
“During these difficult times we have been able to provide our customers across Australia with a safe and rewarding shopping experience in our stores and online,” CEO Glen Robinson said.
“We are seeing many customers investing in their home as they spend more time at home working and studying,” Glen said.
“Thanks to the support of our customers and the commitment of our team members, the group has been able to achieve these strong results,” he said.
Beacon is up 11.6 per cent on the market with shares trading for $1.59 each at 2:18 pm AEDT.