IT retailer Challenger Technologies has reported earnings of $8.4 million for 2HFY2021 ended Dec 2021, down 38% y-o-y. Revenue in the same period down 3$ y-o-y to $147.4 million.
For the full year FY2021, the company reported earnings of $17.8 million, down 24% y-o-y, or %5.5 million, as it did not enjoy the same quantum of government wage subsidies it had for the 2HFY2020 period.
If this one-off item is excluded, the company’s earnings would be $0.4 million lower.
Revenue for the year was up 5% y-o-y to $283.2 million, as FY2020 was when there were periods of shutdowns of its stores to help curb the pandemic.
Despite the lower earnings, the company plans to pay a final dividend of 2.8 cents per share, versus 2.7 cents this time last year.
With the pandemic on going, Challenger expects the retail sector to remain challenging.
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The company plans to drive better productivity, ramp up online sales, and to “enhance” its overall product range.
“We will also continue to monitor the performance of existing and new stores closely by working on our core competencies thereby improving the gross margin arising from changes in sales mix,” the company says.
Challenger Technologies closed at 56 cents on Feb 17, unchanged for both the day and year to date.
