During H1FY17, Vita Group Ltd Expects to deliver improved productivity from retail network
Expects to deliver improved productivity from retail network: During H1FY17, Vita Group Ltd reported strong performance by posting 8% revenue growth from continuing operations to $344.1mn while EBITDA (earnings before interest, tax, depreciation and amortization) witnessed 4% growth at $35.0mn. The revenue growth was driven by execution of strategy to optimize its retail channel and scaling up its business channels. The group continues to focus on improving the productivity of its existing store portfolio and reducing performance variability, whilst at the same time lifting average store earnings through targeted additions to the store network. While Vita benefited from the acquisition of three Telstra stores, it has closed one store during the same period. The company expects to deliver improved productivity from its retail network stores while targeting on increasing momentum in the performance of its business channels. Additionally, in the short term, Vita will further increase its retail presence with the acquisition of five Telstra stores, which will take its Telstra licensed store portfolio to 107. Further optimization of the portfolio is expected with acquisitions, divestments and closures.
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