The Bull

Sunday 21

April, 2019 5:04 AM



Temple & Webster reports HY sales lift

Temple & Webster reports HY sales lift

Drop-shipping homewares provider Temple and Webster has announced a pre-audit, half-year revenue lift of 40 per cent to $49.3 million.

Share |

By AAP 30.01.2019 10:07 AM

Online furniture retailer Temple and Webster says sales have withstood weak retail conditions and a faltering housing market as it flagged a 40 per cent jump in half-year revenue.

The homewares provider - which reports its first-half results next month - says unaudited first-half revenue rose to $49.3 million from $34.4 million in the prior corresponding period.

Temple and Webster did not give any detail on its bottom line but says it remains confident of delivering its maiden annual profit this year.

It flagged half-year earnings before tax and depreciation of $900,000, compared to a $500,000 EBIT loss a year earlier.

"The continued strong performance of our furniture categories during the half suggests consumers are still willing to spend money on their homes," chief executive Mark Coulter said.

"Our positioning around affordable beauty is resonating well with our customers."

In August, Temple and Webster reported its full-year loss has narrowed by 99.7 per cent to $21,000, with full-year revenue up 12.6 per cent to $72.6 million.

Temple and Webster shares were trading at $1.03 before Wednesday's open, up from 38 cents a year ago.

Archive
Markets
Index: Points Change Percent

PLEASE SUPPORT OUR SPONSORS, AUSTRALIA'S LEADING BROKERS:



© Copyright TheBull.com.au. All rights reserved.