statutory net profit after tax of $19.5 million up 14.6%. On a pro forma basis NPAT was $29.6 million, up 13.6% on the prior corresponding period and pro forma EBITDA was $50.5 million, up 16.1%.

FY23 trading update

Comparable store sales as at 10 August 2022 were 15.3% year-to-date (cycling negative 6.4% in the prior corresponding period) and total sales growth has been 19.3%. We expect comparable store sales growth to moderate as we cycle periods affected by lockdowns throughout Australia.

Through the Company’s expanded Best Buy range and loyalty program, we are committed to delivering the greatest value to new and expectant parents when they shop at Baby Bunting.

We anticipate opening at least six new stores in Australia in FY23, including the store at Hornsby (NSW) which opened on 5 August 2022. In addition to the Albany, Auckland store which opened today, we anticipate opening a second New Zealand store in Christchurch in the second half of FY23. With continuing economic uncertainty, inflationary pressures and other global challenges, no guidance about FY23 earnings can be given at this time.

Matt Spencer concluded: “We have started the new financial year in good shape. We are the clear leader in our category. Our transformation agenda is delivering efficiencies and benefits. We are executing on our strategy to grow market share. And, through the strategic initiatives announced today, we have plans to broaden our total addressable market to increase the opportunity before us. It is an incredibly exciting time.”