Join our daily newsletter At The Bell to receive exclusive market insights
- Shaver Shop (SSG) says growth over the 2021 financial year was driven by increasing social media use, online shopping and DIY grooming trends
- The personal care and beauty products retailer posted $213.7 million in total sales — up 9.6 per cent on the prior year’s $194.9 million
- SSG has declared a final fully-franked dividend of five cents per share, up 85 per cent on FY20, taking total dividends for FY21 to 8.2 cents
- The company finished the year with $7.4 million net cash and no debt
- Shares are up 5.39 per cent to $1.08 at 11:27 am AEST
Shaver Shop (SSG) has attributed growth in its sales over the 2021 financial year (FY21) to consumers’ increasing use of social media, tendencies towards online shopping and DIY grooming trends.
The personal care and beauty products retailer posted results for the 12 months to June 30, highlighting $213.7 million in total sales — up 9.6 per cent on the prior year’s $194.9 million.
Following suit, SSG enjoyed a 68.3 per cent increase in net profit after tax, clocking in at $17.5 million compared with $10.4 million in FY20.
The grooming specialist also reported a 66.2 per cent bulge in earnings per share, spiking to 14.2 cents per share from just 8.5 cents in the year prior.
Shaver Shop CEO and Managing Director Cameron Fox said he was proud of the way the team had adapted to the challenges presented over the past year.
“The strength of Shaver Shop’s multi-channel retail offering was evident throughout the year as demand patterns regularly shifted to accommodate the changes in government imposed restrictions in our retail network,” he said.
“Pleasingly, despite these changes to our front of store operations, our model to fulfil online orders from the customer’s local Shaver Shop store, means that we were able to retain high levels of employment and maintain strong team morale. This helped our stores to rebound strongly when restrictions ceased.”
In a statement today, SSG’s board declared a fully-franked final dividend of five cents per share, bringing total FY21 dividends to 8.2 cents and representing a 71 per cent increase on the 4.8 cents in dividends declared in FY20.
Shaver Shop ended FY21 with $7.4 million in cash, no debt and a $30 million undrawn debt facility.
Shares were up 5.39 per cent to $1.08 at 11:27 am AEST.
