Sales across the two brands were $920 million in 2016-17, up from $869 million in 2015-16. Earnings before interest and tax reached $92 million in 2016-17, up from $87 million in the previous year.
The change to one single brand will result in one-off costs of about $34 million.
Mr Birtles said the conversion of the Amart stores would generate improved gross margins through “range optimisation”, the reduction of underperforming categories, and lower costs in marketing and administration.
The benefits were expected to reach an annualised amount of $15 million after two years, with funds to be re-invested into Rebel to make sure it was super-competitive as the market dynamics in Australia changed. He said Rebel would need to invest in “competitive prices and promotions”.