- SILK Laser Australia (SLA) achieves its key milestone of 60 clinics after two were opened in the ACT and NSW
- The company has now opened 10 new clinics in FY21 with an additional expected to be opened by the end of this financial year
- This exceeds SILK’s goal of opening six to 10 new stores per year as it plans to open 150 overall
- The company expects these clinics to generate positive cash flow and earnings before interest, taxes, depreciation and amortisation in their first year of operation
- Shares in SILK are up 3.67 per cent and are trading at $3.95
SILK Laser Australia (SLA) has achieved its key milestone of 60 clinics after two were opened in the ACT and NSW.
These new clinics are part of SILK’s growth strategy of opening new clinics in markets where it is under-penetrated such are Canberra and Newcastle.
SILK has now opened 10 new clinics in FY21 with an additional two expected to open by the end of this financial year.
This will exceed the company’s goal of opening six to 10 stores per year as it plans to open 150 overall.
These two new clinics are expected to ramp up sales and generate positive cash flow and earnings before interest, taxes, depreciation and amortisation (EBITDA) in their first year of operation.
“Our first clinic in Canberra opened in March this year and, pleasingly, it has performed in line with expectations,” Co-Founder and Managing Director Martin Perelman commented.
“We see great potential in the ACT market, and we’re excited to expand our presence there to two locations following the opening of our Wooden clinic.”
SILK has also announced its FY21 guidance, stating cash sales between $82 million to $86 million and underlying EBITDA between $14 million to $15 million.
Shares in SILK are up 3.67 per cent and are trading at $3.95 at 1:44 pm AEST.