Strong FY for Officeworks despite softer IT sales

Officeworks said it has risen above a soft market for technology to grow revenue and earnings.

The retail's sales rose 1.6 percent to hit $1.5 billion, with earnings up 9.4 percent to $93 million – a margin of 6.2 percent.

In the 2013 full-year results of parent group Wesfarmers, the company said the Officeworks uplift was in spite of difficult conditions, pointing to technology as a poor performer.

"Officeworks reported pleasing earnings growth ... despite generally challenging conditions and continued deflationary headwinds, particularly in technology products.

"Increased earnings growth was achieved through a focus on providing better customer service, ranging of new products and services, continued investment in the online offer and improvements made in the business-to-business segment. Investment in the store network was also strong in the year with the opening of 13 new Officeworks stores."

The company, which now has 150 stores, has also been growing its online offering, and saw "double-digit" online sales growth.