Vita Group numbers rise on telco product demand
- 28 February, 2013 10:04
Strong demand for mobility and telecommunications products, has seen Vita Group NPAT increase 189 per cent to $2.7 million in the first half of FY13 ending December 31. Revenue increased 9 per cent to $222 million and EBITDA increased 47 per cent to $10.2 million.
In a statement to the ASX, Vita Group said the results reflected a strong momentum in demand for telecommunications and mobility products, and a clear focus on the execution of the Group’s priorities as well as a solid performance from its telco partner, Telstra.
Revenue from its telecommunications division was up 20 per cent to $172.6 million and EBITDA rose 44 per cent to $10.6 million.
The company’s telco division consists of Telstra, Telstra Business Centres, Fone Zone and One Zero retail outlets, which maintain about 182 points of presence.
However, its Apple outlet stores, NextByte, suffered a 17 per cent decline in revenues to $49.5 million and like-for-like revenues were down 6 per cent. EBITDA was in line with last year, and experienced a slight $400,000 loss.
The results were impacted by restructuring costs linked to store openings and closures and outsourcing its after-sales service as part of a shift from a fixed to variable service cost model.
The Group stated its transition to the new format Next Byte Apple Premium Reseller (APR) platform progressed well during the half, with four new format APR stores opened and three old format stores closed, bringing the number of Next Byte outlets to 19.
“Next Byte faced headwinds during the half as we continued to transform the business, but it’s on track for an improved contribution in the second half as earnings from the new format stores improve,” Vita Group CEO, Maxine Horne, said.
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