• Revenue from ordinary activities up 6.7% to $271.4 million
• Pro forma NPAT up 4.1% to $5.0 million
• Gross margin improved by 124 basis points to 41.0%

Baby Bunting Group Limited has reported its half-yearly results for the period ended 29 December 2025. Revenue from ordinary activities increased by 6.7% to $271.4 million, while net profit from ordinary activities after tax (attributable to members) on a statutory basis decreased by 52.5% to $1.8 million. On a pro forma basis, which excludes certain items to more clearly represent the consolidated entity's underlying earnings, NPAT increased by 4.1% to $5.0 million. Gross profit increased by 10% to $111.4 million, with gross margin improving by 124 basis points to 41.0%. This was driven by improved supplier trading terms and ongoing margin management initiatives. The Group's online sales grew 18% on the prior period, supported by increased digital marketing investment, enhanced delivery propositions and a broader store fulfilment footprint. Private label and exclusive products accounted for 48.6% of total sales, up from 46.1% in the prior corresponding period. The Group continued to progress its Store of the Future program, with six store refurbishments completed during the period, and also commenced a pilot of the smaller format 'Baby Bunting Junior' store concept, with three new stores opened. Two new full-size stores were also opened, while one store was closed.