Australia's Shaver Shop hits over seven-month high on strong profit margin

Shaver Shop

22/08/2022 06:03

** Shares of Australia's Shaver Shop Group Ltd  SSG.AX  rise
as much as 5.13% to A$1.23- highest since Jan. 17 
    ** The grooming products retailer declares FY2022 final
dividend of 5.5 AU cents per share  
    ** Co says FY2022 revenue from ordinary activities grew 4.2%
to A$222.7 million ($153.53 million), but FY net profit after
tax dipped 4.5% to A$16.7 mln  
    ** Says gross profit margin over first seven weeks of FY2023
remains well above long-term averages 
    ** Reports H1 FY2023 to date sales growth of 19.2% vs last
year 
    ** Aims to expand total store network across Australia and
New Zealand to about 130-135 within next three years  
    ** Says gross profit margin over first seven weeks of FY2023
remains well above long-term averages 
    ** Says  YTD trading in FY2023 has been volatile with Y-O-Y
growth rates due to government-mandated lockdown   
    ** Stock on track to see best day since November 22, 2021,
if gains hold  
    ** Shares down ~2.24% YTD as of last close  

($1 = 1.4505 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com))