- Shares in furniture and homewares retailer Temple & Webster (TPW) jump following another year of record revenue
- The company reported full-year revenue of over $326 million, up 85 per cent on the previous year
- Temple & Webster ended the financial year with cash balance of $97.5 million
- On the market, company shares are up 14.3 per cent, trading at $13.27 per share
Shares in furniture and homewares retailer Temple & Webster (TPW) have jumped this morning following another year of record revenue.
The company reported full-year revenue of $326.3 million, up 85 per cent on this time last year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was up 141 per cent to $20.5 million.
Active customers reached 778,000, a 62 per cent increase on FY20. Temple & Webster ended the financial year with cash balance of $97.5 million.
CEO Mark Coulter was pleased with the full-year results.
"Revenue grew 85 per cent across the year driven by strong growth in new and repeat customers and average order values," Mr Coulter said.
"While lockdowns during FY20 and FY21 have accelerated the underlying shift
from offline to online, pleasingly we continue to see strong growth even when comparing against COVID-19 impacted numbers."
Temple & Webster have also recorded a strong start to the new financial year, with revenue from July 1 to July 24 growing 39 per cent on the last comparable period.
"While the start of FY22 has been difficult for many Australians, we remain focused on delivering a great experience for our customers, built around the biggest and best range of furniture and homewares, combined with inspirational content and services and a great delivery experience and customer service," Mr Coulter told the market.
On the market, Temple & Webster was up 14.3 per cent and is trading at $13.27 per share at 11:40 am AEST.