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- The Dusk Group (DSK) has held a candle to its interim results, revealing a lift in online sales and gross margins
- The candle retailer says eCommerce delivered a boost to its bottom line, with online sales jumping 120 per cent over the six months ending December 31
- Strong sales also sparked higher profits, which nearly tripled over the period to reach $19.8 million
- Following the robust financials, Dusk declared a fully franked interim dividend, meaning investors will receive an extra 15 cents for every share they own
- Dusk Group jumped 2.76 per cent over Thursday’s session to close worth $2.98 per share
The Dusk Group (DSK) has held a candle to its interim results, revealing a lift in online sales and gross margins.
The candle retailer says eCommerce delivered a boost to its bottom line, with online sales jumping 120 per cent over the six months ending December 31.
Still, the eCommerce income represents just 8.3 per cent of dusk’s total sales, meaning brick-and-mortar stores are still integral to the business’ bottom line.
All in all, DSK tabled just shy of $91 million in sales revenue over FY21’s first half — up 55 per cent on the previous corresponding period. Strong sales also sparked higher profits, which nearly tripled over the period to reach $19.8 million.
The financial tailwind helped dusk expand its gross profit margin, which rose 63 per cent to $61.6 million during the half.
Following the robust financials, dusk declared a fully franked interim dividend, meaning investors will receive an extra 15 cents for every share they own. The payout is slated to reach bank accounts by March 26.
Moving into FY21’s second half, dusk is buoyed by $34.9 million in cash and equivalents, which the retailer claims will support its current activities.
Speaking to the results, Dusk Group Managing Director and CEO Peter King said “focused execution” lit a match among the retailer executive team.
“While COVID-19 has seen a shift in consumption to home-related products, it should be noted that Q2 FY21 was the fifteenth consecutive quarter of like-for-like sales and gross margin growth for dusk,” he stated today.
“Record signups for dusk rewards in the 1H FY21 are a clear signal of future purchase intent into 2H FY21 and beyond. To ensure these customers stay with dusk we will continue the laser-like focus on our customers, and continue to develop and deliver differentiated dusk branded products offering great value for money and affordable everyday luxury for our customers online and in-store.”
Dusk Group jumped 2.76 per cent over Thursday’s session to close worth $2.98 per share.
