Much to the delight of its long-suffering shareholders, the Godfreys Group Ltd (ASX: GFY) share price has rocketed 18% higher to 85 cents this morning following the release of its full-year results.
Here's what you need to know:
- Revenue fell 2.9% to $174.1 million.
- Comparable (LFL) store sales stabilised at -7%.
- Underlying EBITDA of $14.1 million, down 19.8%.
- Underlying NPAT $5.9 million; EPS of 14.5 cents per share
- Outlook: Underlying EBITDA expected to be flat in FY 2018.
Whilst this was by no means a positive result, investors appear to be pleased that management believes that it has stopped the rot.
With EBITDA expected to be flat in FY 2018, shareholders will no doubt be looking ahead to a possible return to profit growth in FY 2019.
Based on today's result, Godfrey's shares are changing hands at just 6x underlying earnings.
