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adairs Release to the Australian Securities Exchange Adairs Limited First half results for FY21 Record sales and underlying EBIT5 exceed guidance Online sales now 37 % of Group Sales 16 February 2021 Adairs Limited ( ASX : ADH ) Adairs today released its results for the 26 weeks to 27 December 2020 ( 1H FY21 ) . The Company has delivered record sales and profitability at a time when its 43 Greater Melbourne Adairs stores were closed for almost half the period ¹ due to COVID - 19 related restrictions . Sales and underlying EBIT exceeded the December 2020 guidance after adjusting for the $ 6.1 million repayment of the Jobkeeper wage subsidy benefit . 1H FY21 ( compared to 1H FY20 ) snapshot² : • • • • Group sales up 34.8 % to $ 243.0 million - - - Adairs sales + 20.9 % ( Online + 95.2 % , Stores + 4.6 % ; Stores LFL + 14.4 % ³ ) Mocka sales + 44.4 % to $ 28.0 million Group online sales of $ 90.2 million , 37.1 % of Group sales Underlying Group EBIT up 166 % to $ 60.2 million ( 1H FY20 $ 22.6m ) Gross margin up 500 bps - Underlying Adairs gross margin +690 bps to 67.8 % Underlying Mocka gross margin +230 bps to 53.4 % Statutory NPAT $ 43.9m up 233.4 % and EPS 25.9cps ( 7.8 cps in 1H FY20 ) Net cash of $ 22.1 million ( compared to net debt of $ 1.0 million at June 20 ) Interim dividend of 13.0 cents per share ( fully franked ) declared Linen Lover membership now exceeds 900,000 customers The Company will repay the Jobkeeper wage subsidy benefit for the period ( $ 6.1 million ) to the Government 1 Greater Melbourne stores were closed from 6 August 2020 and re - opened on 28 October 2020 . 2 See Appendix 3 of the Investor Presentation for a reconciliation of statutory and underlying results . 3 Like for like sales growth ( " LFL " ) has been adjusted for all store closures , including when Greater Melbourne and South Australian stores were closed due to COVID - 19 , and is calculated on a store - by - store daily basis ( where only stores open on the same day in each corresponding period have been included ) . 4 For information only . Adairs acquired Mocka in December 2019 . 5 Underlying EBIT and NPAT exclude the impact of ( i ) AASB 16 ( Leases ) , ( ii ) Jobkeeper wage subsidy benefit of $ 6.1m , ( iii ) one- off costs associated with the transition to the new National Distribution Centre , and ( iv ) non - cash costs associated with the acquisition of Mocka . It does include the impact of the closure of Greater Melbourne stores for c.12 weeks . Adairs Limited www.adairs.com.au 2 International Court , Scoresby , Victoria , Australia , 3179