Temple & Webster Earnings More Than Doubled In FY21
Temple & Webster’s earnings soared 141 per cent in the 12-months ending June, as the move to e-commerce, and increasing spending on items for the home during the pandemic saw the online retail sector boom.
The company pulled in $20.5 million before interest, tax, depreciation and amortisation, while revenue leapt 85 per cent to $326.3 million.
This follows an unprecedented six-fold increase for July-December 2020, with EBITDA of $14.8 million for that six-month period.
“Once again Temple & Webster has delivered a record result,” said CEO Mark Coulter, pictured above.
“While lockdowns during 2020 and 2021 have accelerated the underlying shift from offline to online, pleasingly we continue to see strong growth even when comparing against COVID impacted numbers,” Mr Coulter said.
Shares currently sit at $11.48, a more than five-fold rise from early 2020, where they sat at $2.68.