Holdsport HEPS on the rise

Holdsport (HSP) has reported a rise in headline earnings per share to 389.9 cents for the year ended February 2013 from 355.8c a year ago. Its core HEPS were up 7.3% to 415.7c.

Sales were up 10.5% to R1.37 billion.

It declared a final dividend of 130c per share‚ for a total gross dividend for the year of 200c‚ up 23.4%

Holdsport comprises the retail divisions Sportsmans Warehouse and Outdoor Warehouse‚ and Performance Brands‚ a wholesale business that includes the First Ascent and Capestorm brands.

Retail sales increased by 10.4% to R1.32 billion and operating profit increased by 7.4% to R243.3 million.

Like-for-like retail sales grew by 8.3% while the retail divisions experienced price inflation of approximately 2.9% for the year. The time weighted trading area increased by 3.7% relative to the prior year.

The Sportsmans Warehouse division expanded its Fourways store‚ relocated the store in Polokwane and added stores in Rustenburg and Bloemfontein. The Capestorm store in Wynberg was closed. Like-for-like sales increased by 9.3%. Sportsmans Warehouse now

trades out of 35 stores.

The Outdoor Warehouse division comprises 19 stores after opening a new store in Rustenburg. Like-for-like sales increased by 5.2%.

Performance Brands achieved external sales of R53.2 million‚ an increase of 11.9%.

Looking ahead‚ the group said the current retail environment is challenging and it does not envisage an improvement during the remainder of the year.

"We have signed leases to open a further two stores during the current year and remain confident that our strategies will deliver a unique and differentiated retail offering to the market."

Source: AFP