Danks reports profit up

Danks Holdings, which incorporates Home Timber and Hardware , Plants Plus and Thrifty-Link retail banners, has reported a four percent rise in its net profit after tax of $2.702 million for its half year results to December 2008.

The company maintained its trading margins during the half year with its exclusive brands program continuing to add value and new brands added to the paint and lighting arenas.

Rising costs were offset by efficiency gains such as a $446,000 restructure of the retail operations team last July which focused on building a business development team.

Danks has its own integrated point of sale and back office system for the independent retail hardware segment and in the half year to December 2008 installed eight systems into retail outlets.

While Graeme Danks, managing director, believes the economic outlook remains mixed, he emphasised the company’s commitment to organic growth through attracting new members.

This year the company celebrates its 150th year of consecutive trading.

This article appears courtesy of 5 Minute Franchising Newsletter.