GXL Results F2 are very good in a depressed market with strong future growth, Facts are:
Revenue up 14% to $733.7 million
Gross margin (%) up 130 bps to 55.7%
EBITDA up 38% to $87.1 million
Underlying EBITDA1 up 12% to $97.5 million
Cash Conversion up 53% to 108%
NPAT up 82% to $34.6 million
Underlying NPAT1 up 10% to $42.1 million
Underlying EPS1 up 8% to 37.0 cents
Annual Dividends up 9% to 18.5 cents per share
Net debt down $6.4 million to $228.0 million
Retail stores up by 21 to 221
In-store vet clinics up by 14 to 17
GXL Price at posting:
$7.27 Sentiment: Hold Disclosure: Held