Adairs Limited provides trading performance and guidance for FY2023 updates

Jun 02, 2023

Adairs Limited (ASX: ADH) has released a trading update regarding the 48-week period ending on 28 May 2023, along with revised guidance for the 52-week period ending on 25 June 2023 (FY2023).  In comparing H2 sales growth to FY2022, Adairs saw a decline of 3.40%, and focus on furniture experienced a decrease of 10.90%. However, when considering YTD sales growth compared to FY2022, it achieved a positive growth of 5.20%, and the focus on furniture had a growth of 5.40%.

Mocka faced a significant decline in both H2 sales growth (23.80%) and YTD sales growth (25.50%). Overall, the group's H2 sales growth declined by 7.00%, but there was a modest increase of 1.90% in YTD sales growth compared to FY2022. Revised FY2023 guidance shows a slight decrease in group sales and EBIT, with updated ranges of AU$616 - AU$622 million and AU$62 - AU$65 million, respectively. Capital expenditure remains relatively consistent, ranging from AU$12 - AU$13 million.

 

 

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