Australia's Adairs hits 12-week low on weak annual results, FY25 sales update

Adairs

28/08/2024 02:21

** Shares of Adairs  ADH.AX  fall as much as 16.1% to
A$1.72, their lowest level since June 7
    ** Home furnishing retailer posts 17.8% drop in FY24
statutory NPAT and 4.3% fall in total sales
    ** Says sales materially impacted by lower customer traffic
    ** Declares final dividend of 7.0 AU cents per share in FY24
after declaring no dividend in FY23
    ** Says group sales are down 0.4% in FY25 YTD
    ** About 1.8 mln shares change hand at 0042 GMT compared to
30-day average trading volume of 511,997 shares 
    ** Stock up 13.3% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))