Joyce Corp reports small profit rise
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Friday, 29 February, 2008 - 15:26
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Bedding franchiser Joyce Corporation Ltd has reported a small increase in net profit after tax to $1.428 million, and outlined plans for further growth of its retail operations.
The net profit was up slighty from $1.408 million previously.
The company said its operating profit was up 54 per cent, but this was largely offset by a smaller increase in property revaluations.
Its franchising business, which has 39 bedding stores across Australia, achieved like-for-like sales growth of 15 per cent.
The company built two retail stores, acquired a third store from a franchise holder, and plans to open a further four company owned stores in the current half year.
It announced an unfranked dividend of three cents per share.
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