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- Dusk Group (DSK) has seen sales grow by around 49 per cent in the first half of the 2021 financial year
- It comes after the company’s online sales more than doubled in FY21’s first half, jumping 120 per cent
- Today, Dusk provided a trading update, announcing it expects its interim sales to hit $90 million in the first half of FY21
- Meanwhile, Dusk’s net cash as at the end of the period will settle at approximately $33.5 million
- Dusk Group’s shares are down 1.64 per cent, trading at $1.80 per share
Australian fragrance retailer Dusk Group (DSK) predicts its sales have jumped by up to $31.3 million in FY21’s first half.
Today, the company issued a trading update, outlining its expected results for the first half of the 2021 financial year. Overall, Dusk’s sales guidance is set to land between $90 million and $90.5 million.
Dusk says the 49 per cent spike in sales during the half was supported by a 120 per cent increase in online sales.
The company also expects its earnings before interest and tax (EBIT) to land between $26 million and $27 million in the first half of the financial year, compared to $9.7 million in the prior corresponding period.
The net cash as at the end of the period will settle at approximately $33.5 million.
The specialty retailer offers candles, ultrasonic diffusers, reed diffusers and essential oils, as well as fragrance related homewares.
Significantly, Dusk confirmed its sales and earnings growth continued across the festive season, meaning it finished the year with a well-balanced inventory position, no drawn bank debt and significant surplus cash.
“The results delivered across the first half of FY21 are well ahead of the results delivered in the prior corresponding period despite a significant period of disrupted trade in Melbourne,” Dusk CEO Peter King commented today.
“They build on the strong results delivered across the past three years and further demonstrate the success of our focused strategy and the ability of our team to execute, including in a volatile environment where agility has been key.”
Dusk Group’s shares are down 1.64 per cent, trading at $1.80 per share at 9:50 am AEDT.
