The beauty company’s increase faired well compared to 71.5 million rand recorded in 2013. The company also revealed that the group had embraced technology partly contributing to this growth.
(READ MORE: Imbalie Beauty interim results reveal revenue growth)
[DATA ILE:Imbalie Beauty Limited]’s revenue growth has been attributed to increased marketing, the sale of high technology equipment and increased royalty income earned from the existing and newly opened outlets in the group.
“The positive impact experienced with the revamping and rebranding of salons resulted in an increase in system-wide sales of 14 per cent,” noted the company.
“The group’s growth in earnings and headline earnings were modest, as a direct result of the increase in operating expenses, from the previous year.”
Earnings per share increased to 0.63 cents compared to 0.57 cents in 2013 with headline earnings per share increasing to 0.68 cents compared to 0.58 cents in 2013.
“Gross profit increased by 21.2 per cent to R53.1 million rand compared to 43.8 million rand in 2013.”
The group also reported that the gross profit margins decreased by 0.5 per cent to 60.8 per cent compared to 61.3 per cent in 2013, due to currency weakening which had anegative effect on gross profit margins.
Imbalie Beauty is a franchisor, distributor and service provider of beauty offerings and products.
It has both its own distribution footprint and a franchised distribution footprint, which together total 153 beauty salons nationally.
Imbalie Beauty is also multiple brand owner, owning the following franchise salon chains, Placecol Skin Care Clinics; Dream Nails Beauty Salons; and Perfect 10 Nail and Body Studios.
“The company foresees a bright future with the opening of more successful beauty salons, which will create more job opportunities in South Africa. Imbalie Beauty has a strong pipeline for the opening of new beauty salons in 2015.”