Beacon Lighting has achieved record sales and profits during FY20, with Australians spending more time working, educating and completing DIY projects at home.
The lighting group recorded sales of $252.2 million and a NPAT of $22.2 million – 38.5 per cent up – off the back of its ability to keep stores open through lockdown and seeing a strong spike in sales during April, May and June.
The business also saw record online sales reach $16.2 million, representing a year-on-year growth of 50.2 per cent, as more and more customers turned to e-commerce.
“It was fantastic to see the strength of our team and support from our customers during those challenging times,” CEO Glen Robinson said.
And due to the pick up in demand the business never applied for JobKeeper.
That’s not to say the business remained unaffected by Covid-19, however. During March and April the business reduced market expenditure due to the high levels of uncertainty many businesses felt at the time, and delayed several investments in store refurbishments and future projects.
“Given the uncertainties around the extent of future Covid-19 cases, changes in customer shopping behaviours and changes to future government policies it is not possible to forecast whether the current high level of sales being experienced will continue,” the business said.
“This is especially so considering recent Stage 4 restrictions applying to all 28 Melbourne metropolitan stores and Stage 3 restrictions applying to the 4 regional Victorian stores.”
Stores in Melbourne have been closed to the public, though remain open to trade customers.
Beacon does have big growth plans for FY21, despite the relative uncertainty remaining in the market due to the Covid-19 pandemic.
In the next financial year the business plans to replatform its websites, open several new stores and introduce new product ranges, and pursue international business opportunities that complement the core activities of the group.
“[We] remain encouraged by the continued support from our associates, customers and business partners and the general community,” Robinson said.
“However, there remains a high level of uncertainty in Australia and the rest of the world given the impact of the Covid-19 pandemic.”