The Breville Group Ltd (ASX: BRG) share price is up 4% to $17.37 today and up more than 50% over the past year thanks to growing sales for the kitchen appliance business. The group has not released any specific news today but did hold an AGM in Sydney yesterday where it provided investors with a general business update.
Over the first half of FY 2020 Breville has launched a number of new products including coffee makers, blenders, microwaves, grills and juicers. Developing market-leading products is important for Breville as it commonly targets households prepared to pay more for the best kitchen products.
In turn this helps Breville protect and grow its profits margins that are the key to overall shareholder returns.
Yesterday, it also flagged that its new strategy to grow sales in Europe under the Sage brand is picking up steam. Germany in particular is posting strong sales growth with plenty of room to climb.
Over FY 2019 it posted a net profit of $67.4 million on sales of $760 million. It also has a strong balance sheet and is partly owned by Solomon Lew’s retail conglomerate Premier Investments Limited (ASX: PMV).
The post The Breville share price is now up 50% over the past year appeared first on Motley Fool Australia.
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