Australia's Shaver Shop gains on acquisition of six remaining franchise stores in NSW

Shaver Shop

03/12/2020 24:11

** Shares of Shaver Shop Group  SSG.AX  rise as much as 7.6%
to A$1.140, marking their biggest intraday percentage gain since
Nov 19 
    ** The personal grooming products retailer acquires six
remaining franchise stores in NSW for A$13 mln ($9.64 mln )plus
stock on hand   urn:newsml:reuters.com:*:nASX1K0lNk
    ** Co sees an addition of A$16 mln to A$17 mln in sales from
the acquisition of the stores in the first full year of
ownership
    ** Expect the acquisition will be immediately accretive to
EPS with about A$1.5 mln - A$1.6 mln being added to the NPAT in
the first full year of ownership - SSG 
    ** Says total sales for five months ended Nov up 19.1% at
A$88.4 mln, driven by a growth in online sales  
    ** Stock up ~63% this year, as of last close 

    ($1 = 1.3486 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))