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Breville, Adairs eye growth as consumers bunker down

Sue Mitchell
Sue MitchellColumnist
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Key Points

  • Revenue ($m) 711 up 28.8pc from year-earlier 552
  • Pretax profit ($m) 90.1 v 68.8
  • Net profit ($m) 64.2 v 49.7
  • Interim dividend 13c v 20.5c, payable on March 18 

Spending on homewares will continue to grow as consumers spend more time at home, but stock shortages and increased investment could take the edge off strong profit growth at Breville and Adairs this year.

Breville chief executive Jim Clayton said the shift to working from home had increased the size of the appliance seller’s potential market, opening up new areas of growth unforeseen before the pandemic, but demand was likely to differ market to market depending on vaccine uptake.

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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com

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    Original URL: https://www.afr.com/companies/retail/breville-slashes-dividend-despite-bumper-profits-20210215-p572q8