Adore Beauty gains on upbeat FY24 results; revenue meets Citi estimate

Adore Beauty

19/07/2024 03:54

(Adds comments from a Citi note in paragraphs 2, 3 ad 4)
    ** Shares of Australia's Adore Beauty  ABY.AX  rise as much
as 8.7% to A$0.94, their highest levels since late June 
    ** The online beauty retailer reports FY24 unaudited revenue
of A$195.7 mln ($131.14 mln), up 7.4% on the prior corresponding
period, in line with Citi's expectation of A$193 mln
    ** Citi sees FY25 revenue growth of 17%, or ~13% if the
acquisition of iKOU is excluded
    ** Co reports FY operating profit margin between 2.2% and
2.5%, ahead of Citi's expectations of 2%
    ** Stock has fallen ~38.2% this year, as of last close


    ($1 = 1.4923 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru and Sherin Sunny)
 ((Archishma.Iyer@thomsonreuters.com;))