Improving business performance: For FY17, Adairs Ltd has posted 7.1% yoy growth in sales at $265.0 million, while posting 1.4% decline on Like for like basis. Gross profit was up 3.8% to $156.8 million, while EBIT down 21.5% to $30.8 million and NPAT was down 19.6% to $21.0 million. During the year, it has opened 13 new stores including 9 in Australia and 4 in New Zealand. The first half of FY17 was a challenging period, as range issues in some product categories together with a softer than expected Christmas trading period impacted the performance of the business. Over the course of the second half of FY17, the company successfully re-balanced its range, largely correcting the issues within some of key product categories, and stabilised the underlying profitability of the business.