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Abco held its first educational seminar for
its suppliers in Sydney in February, forming
part of the cleaning and washroom product
specialist’s wider corporate strategy to
“invest back into the industry”.
Held in Darling Harbour, the Abco
Business Breakfast included a keynote
presentation by financial analysist and
author Alan Miltz on cash flow.
Miltz, whose analysis techniques have
been used in 22 countries by more than
20,000 users including some of the
world’s leading banks and corporations,
Abco hosts first educational seminar
gave delegates an intensive one-hour
presentation on how business can improve
cash flow and grow value.
Craig Dowell, executive director of sales
at Abco, said the inaugural event was
part of Abco’s wider innovation strategy,
with the company planning to hold more
educational conferences on various topics
throughout the year for its industry partners
“We are a supplier of cleaning and washroom
products that is progressive and easy to deal
with – that’s our vision that we live and
The chief of Godreys has labelled the
vacuum retailer’s half-year results as
“disappointing”, but says the company is
making inroads rationalising its product
range and converting its network to a
majority franchise model.
Godfreys Group Limited reported an
underlying net profit after tax of $2.3
million for the half-year ended December
30, compared to $4.5 million for the
previous corresponding period.
Sales for the period were $92.4 million,
an increase of 2.8 per cent on the prior year,
which included the contribution from New-
Zealand based The Service Company.
Comparable store sales for the half were
down by 7 per cent. Operating gross margins
were down by 3.5 percentage points.
John Hardy, Godfreys CEO, said the
company’s initial priorities have been to
address product range, marketing, as well as
improve store presentation and staff training.
“While the financial performance for the
Godfreys prioritises product range, stores
amid “disappointing” sales result
half was disappointing, I am pleased by
the progress we have made in improving
fundamental areas of the business; these
changes have set the foundation to restore
Godfrey’s financial performance to
acceptable levels,” Hardy said.
“Our initial priorities have been to
address gaps in our product range; realign
our marketing strategy; improve store
presentation; and enhance the training of
our sales teams. During the half we made
solid progress in these areas, particularly in
terms of realigning the product range and
we now expect to have this largely in place
Godfreys opened four stores and closed
three during the period, taking its total
network across Australia and New Zealand
to 223 stores.
The vacuum retailer said its strategy to
move to a majority franchised model is on
breathe. We are making things easier through
innovating, strategising, and constantly looking
at ways to assist and improve,” Dowell said.
“[The Business Breakfast] wasn’t about
selling Abco. We want to invest back into
the industry so we can make businesses
more profitable. If every single one of our
businesses is profitable, there’s more quality
amongst us – suppliers and contractors
alike. It will raise the whole level for the
industry and it will be a better atmosphere
for all of us.”
track to deliver 18 store conversions to
franchise stores for the 2017 financial year.
Four stores were completed at the end
of December 2016, with the remaining 14
slated for completion in the second half of
Godfreys plans to covert 60 corporate-run
stores to a franchise model over the next
The retail project is being led by Bernie
Bicknell following the appointment of
Andrew Ford as CFO.
“The franchise strategy announced in
October last year in progressing well
and has been well received by potential
franchisees generating a solid pipeline,”
Alan Miltz presents at the Abco Business Breakfast
Abco’s Craig Dowell addresses delegates
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