Lenard's profit not too foul

 

BRISBANE poultry retailer Lenard’s has recorded a 16 per cent rise in average annualised profit for the first half of this financial year, with average store sales just under $1 million.
CEO Bruce Myers says the results are an excellent achievement for Lenard’s franchise owners considering the economic climate, and are on track to achieving 2009 growth targets.
“We believe our franchise support program is second to none and we are committed to working with franchise owners to ensure their businesses grow over the next year and beyond,” says Myers.
Australia’s largest meat retailer started expansion plans in 2008 with a first phase of gaining master franchise licenses in South Australia, Victoria and the Northern Territory.
The franchise also received support when Blue Sky Private Equity bought a 30 per cent stake in Lenard’s Group Holdings
Pty Ltd.
Further growth plans include a ‘butcher-in-store’ concept which first featured in Kingaroy in November, with an added boost from a deal to expand the brand through IGA Supermarkets nationwide.
Founder Lenard Poulter says these are exciting times for Lenard’s, with future growth opportunities for stakeholders.
“As the fastest growing independent retailer in Australia with over 1300 stores, the alliance with IGA provides Lenard’s an opportunity to rapidly expand on our already booming market presence across the country,” says Poulter.
“These concepts will complement our key growth strategy of recruiting new franchise owners and identifying opportunities for new stand-alone stores.”
Subscribe Now!
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

HMC Capital enters private credit market with $127.5m purchase of Payton Capital

HMC Capital enters private credit market with $127.5m purchase of Payton Capital

After more than a year of due diligence and amidst plans to lift it...

Cost of living elevates salaries and perks as key drivers of employee retention in 2024

Cost of living elevates salaries and perks as key drivers of employee retention in 2024

The cost of living is making salaries and perks just as important a...

Enterprise roll-out "one of the biggest launches in Canva's history" as ARR hits $2.2b

Enterprise roll-out "one of the biggest launches in Canva's history" as ARR hits $2.2b

Sydney-headquartered graphic design and visualisation tool giant Ca...

The Star unsuitable to hold a casino licence, final Bell Inquiry submissions claim

The Star unsuitable to hold a casino licence, final Bell Inquiry submissions claim

The Star Entertainment Group (ASX: SGR) has been declared unsuitabl...