The Baby Bunting Group Ltd (ASX: BBN) is soaring today after the company released its results for the 2019 financial year (FY19) to the market this morning.
BBN shares closed trade yesterday at $2.40 but opened this morning at $2.70 and have soared higher still – sitting at $2.72 at the time of writing, a rise of 13%.
The Baby Bunting share price has had a mixed year, with BBN shares see-sawing between $2 and $2.50 for 2019 so far, so today’s move represents a significant breakout.
Why have Baby Bunting shares gone bananas?
In short, the full-year results that Baby Bunting released this morning were very positive. Here are some of the highlights:
- Total sales growth of 19%
- Gross profit growth of 25.6%
- Earnings (EBITDA) growth of 45.9%
- Net profit after tax growth of 58.2%
- Earnings-per-share at 12 cents – up 57% year-on-year
- Final dividend of 5.3 cents per share, with dividends for FY19 up 58.5% year-on-year