Review, Black Pepper drive retail group’s e-commerce growth
The PAS Group, the company behind retail and wholesale brands including Review, Metalicus and Black Pepper, has seen its revenue from sales grow to $269.4 million in FY2016, thanks in part to strong e-commerce growth.
Online sales across brands were up 149 per cent and now represent more than 9 per cent of all retail sales. Black Pepper more than doubled its online sales, while Review posted a 95 per cent increase in online sales.
The opening of new stores and the full year impact of stores opened during FY2015 also contributed to the group’s positive results. The company posted a net profit after tax of $11.3 million, a 14.3 per cent increase over the previous corresponding year.
The PAS Group will continue to focus on its e-commerce business to drive growth in FY2017, including new websites for Black Pepper and newly acquired brands White Runway and JETS, increased investment in digital marketing and an upgraded loyalty platform. The group will also launch an online collaboration with Myer next year that will allow Myer’s online customers to access the full Review range.
Another factor expected to drive growth in FY2017 is the sale of Melbourne based clothing brand Metalicus, which is on track to be finalised by the end of September 2016. The PAS Group said the business has been loss making and the sale will free up working capital.
The group’s board declared a final dividend of 2.6 cents per share, fully franked and payable on October 7 2016. Total dividends declared for the year were 5.2 cents per share.