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- Oldfields’ (OLH) paint tools division has announced a revenue growth of 20 per cent in September and October of this year
- This reportedly follows on from a full year growth of 25 per cent in the prior financial year
- The company says the result is important not only for the size of the increase but also the consistency in which sales have been growing
- Oldfields expects to return to positive earnings when its final numbers come through for the last six months of the year
- Shares have been down 2.8 per cent, trading at 7 cents
Oldfields’ (OLH) has announced revenue growth of 20 per cent in September and October of this year.
This reportedly follows on from a full-year growth of 25 per cent in the prior fiscal year.
According to the company, its paint tools division currently accounts for around 20 per cent of the Company’s total revenue.
The company claims more paint distributors are making Oldfields a critical part of their offer to the professional painting community. Additionally, it claims the repeat business and feedback has meant that sales have continued to gain pace.
Oldfields’ CEO Richard Abela says the company’s focus on product development is at the core of this growth.
“Our attention to customer satisfaction both in trade and retail has seen us introduce new products to the market that deliver a superior paint finish, greater productivity and has created increased brand awareness – essential for the professional painter,” he said.
“We have also introduced new products and enhanced our current product range for our retail customers.”
Shares were done 2.8 per cent trading at 7 cents at 4:28 pm AEDT
