Australia's Temple & Webster hits over 5-month high on upbeat earnings, outlook

Air Industries

27/07/2021 01:45

** Online furniture retailer Temple & Webster Group  TPW.AX 
jumps as much as 7.1% at A$12.43, their highest since Feb 16
    ** Co says https://www.templeandwebstergroup.com.au/DownloadFile.axd?file=/Report/ComNews/20210727/02399322.pdf
 full-year revenue jumps 85% to A$326.3 mln ($240.97 mln);
EBITDA more than doubles to A$20.5 mln
    ** The rise in revenue driven by strong growth in average
order values from new and repeat customers 
    ** Adds that FY22 started strongly, with revenue jumping 39%
for period of July 1 to July 24
    ** RBC Capital Markets says "1H22 is off to a good start
allowing TPW to reinvest back into the operations of the
business"
    ** TPW says "continue to see strong growth even when
comparing against COVID-19 impacted numbers"
    ** Stock rises most since June 28; on track to post seventh
consecutive gain session
    ** TPW is second-biggest percentage gainer in the ASX All
Ordinaries index  .AORD  
    ** TPW outperforms S&P/ASX 200 Retailing (Industry Group)
sector  .AXRTJD  by 4.2 percentage points in the past one month

     ($1 = 1.3541 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; +918061823447;))