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Melbourne-based bookstore owner RedGroup is rumoured to be poised to list on the Australian Securities Exchange before Christmas, after it posted "impressive" results, Smart Company reports.
RedGroup, which owns the Borders chain in Australia, New Zealand and Singapore, as well as Australian chain Angus & Robertson and the Whitcoulls chain in New Zealand, is currently owned by Private Equity Partners, which thought to want to offload the business.
"The company's results have heightened speculation of a pre-Christmas float," Smart Company said, citing 52% revenue growth for 2008-09 to $685m as a core reason, although this was partly boosted by integration of the Borders chain, which RedGroup bought in June 2008.
RedGroup's increase in earnings before interest, tax, deprecation and ammortisation more than tripled from $14.1m to $42.4m, the website reported.
Executive Chairman Rod Walker said in a statement: "The group now has diversity and a strong position in the market. We also have a great team in place from the store level right up through the support office."