Officeworks half-year sales up 1.8 per cent
Technology sales growth offset by dip in furniture.
Officeworks is on track to continue its long run of annual revenue growth following a 1.8 per cent increase in half-year sales to $1.68 billion.
The national retailer’s earnings of $86 million were 1.2 per cent higher than the prior corresponding period.
The retailer said growth in technology, stationery, art, education and ‘Print & Create’ was partially offset by lower furniture sales.
The ratio of online revenue accounted for 34.7 per cent of the total.
Some key points from Officeworks’ results presentation included:
- Expanded own-brand range of differentiated products by eight per cent.
- Strong growth in B2B
- Positive back-to-school performance with sales in line with prior corresponding period, despite non-recurrence of NSW back-to-school voucher program.
- Growth in technology sales, reflective of increased digitisation of education.
The opening this week of the company’s 17th store in Western Australia brought the national total to 170 (see separate story).
Date Published:
16 February 2024