The Recycler
  • Ambiente 2025 Masthead
  • G&G Masthead August 2024
  • Biuromax Masthead web banner March 2024
  • Katun web banner December 2022 NEW

Officeworks delivers growth in challenging year

September 1, 2022

The company has published its latest financial results reporting revenue grew 4.6%.

Officeworks reported its revenue increased 4.6% for the 2022 financial year to AU$3.169 billion ($2.158 billion/ €2.155 billion). Earnings of AU$181 million ($123.3 million/ €123 million) were 14.6% lower than the prior year. 

Sales and margin mix for the year was impacted by COVID-related temporary store closures in the first half, Officeworks said. Strong growth continued in technology and furniture as customers continued to work and learn from home throughout the year.

As COVID-related disruptions eased, trading conditions improved in the second half, with sales growth of 5.5% supported by continued demand growth across technology and furniture categories. The earnings result also reflected higher costs of doing business associated with managing COVID-related disruptions.  

Online penetration, including click and collect, remained elevated during the year, driven by strong online sales during periods of lockdown, the company added.  

During the year, Officeworks upgraded 75 stores and opened two new stores and relocated three stores. As of 30th June 2022, there were a total of 168 Officeworks stores across Australia.   

Officeworks Managing Director, Sarah Hunter said: “I’m incredibly proud of our team for navigating another challenging year and continuing to inspire Australians to work, learn, create and connect. I’d like to thank our team, our customers and partners for their ongoing support and commitment.” 

“Officeworks’ everyday low-prices, wide range, great service, and well established every-channel offer make it well positioned to continue to support retail and business customers in the year ahead and remains committed to helping make bigger things happen for its team, customers, partners and local communities.”

Categories : City News

Tags : Financials Growth Officeworks Retail Sales Stores

  • Biuromax web banner July 2024
  • Apex September 2024 Web ad
  • GM Technology October 2024
  • IR Italiana Web ad January 2021
  • TN Core Nov Web advert
  • Ink Tank No Web advert
  • Cartridge Web Nov Web Banner
  • Static Control June 2022 Big & Bold Ad
  • G&G web advert October 2024
  • denner UK Web Banner Jul 2024
  • ITP Web ad January 2021
  • Mito Web banner June 2024
  • CET Web ad December 2023
  • Zhono Web ad March 2024
  • HYB Web banner Jan 2024
  • PCL Nov Web advert
  • Denner Feb 2024 Web Ad
  • Denner Feb 2024 Web Ad
  • PCL Nov Web advert
  • Zhono Web ad March 2024
  • Mito Web banner June 2024
  • denner UK Web Banner Jul 2024
  • HYB Web banner Jan 2024
  • CET Web ad December 2023
  • ITP Web ad January 2021
  • CET Web ad December 2023
  • ITP Web ad January 2021
  • denner UK Web Banner Jul 2024
  • Zhono Web ad March 2024
  • PCL Nov Web advert
  • Mito Web banner June 2024
  • HYB Web banner Jan 2024
  • Denner Feb 2024 Web Ad

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark