That’s betta: 60% hike in income for the BSR group.
The results for the BSR Group, owners of Betta Living franchise, for the year ending 31 March 2012, announced yesterday reflects the solidity of the business and the increased income returned to members,” Betta CEO Graeme Cunningham said.
Cunningham also attributed the income lift to BSR’s alliance with buying group NARTA.
“The additional benefits arising from the alliance with NARTA and the Group’s direct arrangement with supplier-partners are being promptly returned to members, resulting in the highest return of income since the Group’s inception in 2006,” he said.
The return to retailers in rebates and direct costs including advertising and marketing also rose to 79.4% of total income, up almost 10% on a year ago.
“The return to retailers also included additional retail support funds that were set aside to assist the store rebranding initiative from Betta Electrical to Betta Home Living.”
However, Betta’s CEO also recognise the current “malaise” in the retail industry, which has seen several casualties, of late.
“To compound the wider economic malaise, the electrical goods retailing industry has experienced continued price erosion in a number of key categories and seen a number of specialist retailers fail.”
“When laid against this backdrop, the achievements of the Group and the growth achieved in the business, is all the more satisfying,” he said.
Betta also recently added 40 Retravision stores to its network and with the recent additions “we are well positioned for the future,” Cunningham added.