Sign up Australia
Proactive Investors - Run By Investors For Investors

Coventry Group delivers double digit growth in FY18

The company ended FY18 with $5 million in cash and no debt.
hydraulic system in piece of machinery
FY18 revenue grew 11.6% on FY17 which was around $151 million

Coventry Group Ltd (ASX:CYG) has delivered revenue growth of 11.6% for continuing operations in FY18 compared to FY17.

The company is a distributor of industrial products in Australia and New Zealand trading as Cooper Fluid Systems and Trade Distribution.

Examples of the industrial products sold include hydraulic equipment for heavy machinery and fasteners (nuts and bolts).

Coventry noted that market conditions remain positive in its key markets of construction, industrial and resources.

Cooper Fluid Systems growing strongly

Cooper Fluid Systems revenue again showed substantial growth with June quarter sales up 19.4% on the prior corresponding period (pcp).

Sales growth continues to be driven by an increase in service, maintenance, upgrade and new equipment activity in the resources sector.

Reducing costly distribution centre footprint

Trade Distribution Australia continued to show improvement with June quarter sales up 6.1% pcp and full year revenue up 3.5% pcp.

Initiatives to improve business performance focussed on value proposition are continuing by driving profitable sales growth and reducing costs in our distribution centre infrastructure.

Trade Distribution New Zealand continued to perform strongly with June quarter revenue up 16.3% pcp and full year revenue up 14.1% pcp.

View full CYG profile View Profile

Coventry Group Ltd Timeline

Related Articles

Vault online software in the cloud image
August 08 2018
The company has achieved strong sales on the back of its risk and safety management software systems.
Mexican flag
March 26 2018
PLCs in emerging markets no longer have to find someone to promote their company to overseas investors
ROBO Global US CEO Travis Briggs
August 15 2018
Investors can buy directly into the popular ROBO ETF based on the benchmark index comprised of 87 top robotics, automation and AI companies.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use