Super Retail Group: FY23 earnings - Pretty special

About the author:

Author name:

By Alexander Mees

Job title:

Co-Head of Research and Senior Analyst

Date posted:

17 August 2023, 8:00 AM

Sectors Covered:

Gaming and Retail

• Super Retail Group (ASX:SUL) reported positive growth in sales and earnings in FY23, despite cycling elevated comps. Better than expected margins meant NPAT was 9% higher than our estimates. SUL declared a 25c special dividend, and at this stage we think it will declare another one this time next year.
• Our NPAT forecasts rise by 1% in both FY24 and FY25.
• We retain an ADD rating with an increased target price of (login to view).

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