Baby Bunting Group Limited - Report Writing - Finance Assignment Help

Assigment Task

We are very proud of what the team at Baby Bunting has achieved. The year saw Baby Bunting truly establish itself as the go to destination for baby goods in Australia. We started the 2019 financial year in unsettled trading times. There was a number of competitor closures in the prior year and in the early part of this year, which had an adverse effect on Baby Bunting’s sales and gross margin performance in 2018. In response, the management team focussed on a number of actions to grow
market share and build profitability, including:
• continued focus on customer service;
• capitalising on available market share opportunities;
• securing prime sites for our store network;
• stabilising gross margin without compromising value;
• driving our private label and exclusive product expansion program; and
• investing in people and systems to support growth.

FY2019 financial results overview
The 2019 financial year was a 53 week trading period. Baby Bunting achieved some strong financial results for the year.
In FY2019:
• total sales were $368.0 million, up 20.9% on the prior year;
• gross profit increased 27.3% on the prior period to $128.4 million; and
• statutory net profit after tax was $12.4 million, up 43.3% on the prior period and the Company finished the year with net cash of $2.7 million.
Presented on a 52 week basis (to enable comparisons with prior 52 week trading periods) and excluding some significant one- off project and acquisition related expenses and the non-cash impact of employee equity incentive expenses:
• pro forma sales of $362.3 million, up 19.0% on the prior corresponding period;
• total transactions were up 16.6% and comparable store sales transactions were up 6.4%;

EBITDA margin improvement
We continue to target EBITDA margin improvement. Pro forma EBITDA margin for the year was 7.5%, an improvement of 140 basis points on the prior corresponding period.
There were a number of factors driving this performance. Pro forma gross profit percentage was 35.0% an improvement of 190 basis points on the prior year. This was achieved without compromising the focus on value for the customer. Sales of private label and exclusive products across the year were at 27.6% of total sales, an increase of 56.5% on the prior year and we are well on our way of achieving our long term target of 50% of sales. This highlight reflects the work our merchandise team continues to undertake with our supplier partners to deliver exclusive products for our customers throughout our store network and online.

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