Victory Offices Limited Reports Financial Results for the Half Year Ended De. 31, 2019; Provides Financial Guidance for Fiscal Year 2020; to Open New Locations in Second Half of 2020 and Fiscal Year 2020
The company is expecting to achieve 20% year-on-year revenue growth in fiscal year 2020. Expects NPAT to revenue margin to remain close to the 20% margin reported in fiscal year 2019 for `mature' locations (that is excluding impact of new locations).
The company also announced that 30 locations expected to be open by end fiscal year 2020, up from 19 at end fiscal year 2020. Ten locations scheduled to open in second half of fiscal year 2020. Geographical footprint increasing to include Canberra and Adelaide as well as a further expansion in Sydney and Brisbane. Adding over 49,000 square feet of floorspace in fiscal year 2020 taking total footprint to over 144,000 square feet. By end fiscal year 2020 will be second largest operator (by number of locations) in Australia.