Officeworks posts solid results
The AFR reported on Officeworks' impressive performance. The office product retailer's sales grew 9.1% to $2.14 billion and earnings rose 8.3% to $156 million. Return on capital rose 13% to a record 16.6% and has almost tripled since 2009, underpinned by 10% compound annual earnings growth and better inventory management. Supported by investments in digital initiatives, data analysis, and services, as well as plans to continue to open four to eight stores annually, the business is confident it can continue to deliver above-market growth.