Breville (ASX: BRG) puts on 20%
Stock
Breville Group (ASX: BRG) $14.42 as at 14/02/2019
Event
Breville has burst out of the gates today to rally to new all-time highs following an impressive first half report. The homeware distributor saw strong growth in the first half on the previous comparable period, with adjusted net profit after tax (NPAT) up 14.8% beating the streets expectations driven by some impressive revenue growth.
Successful expansion into Germany and Austria helped boost the result, with European sales up over 30%. Coffee was also big driver of growth as global consumption sours.
The company continues to perform where other retailers can’t in the tough macro environment. A quality retailer that is executing well in the things they can control.
Guidance for the full year is for EBIT growth “to be slightly higher than the market’s current consensus of ~11%,” hard to interpret that as anything but a beat.
Breville (ASX: BRG) Chart
Market Matters Take/Outlook
