Temple & Webster (ASX:TPW) earnings soar 668% higher

Company News

by Katrina Bullock

Australia’s largest homewares e-commerce company, Temple & Webster (ASX:TPW) has seen its YTD EBITDA soar 668 per cent higher to 7.1 million for the 2020 financial year ended 31 March 2020.

This growth was driven by strong sales in April and May as covid forced customers to turn to e-commerce for their furniture and homeware needs. The company is on track for this trend to continue in June.

YTD Revenue is up 68 per cent to $151.7 million (vs pcp).

The company says it remains bullish about the longer-term shift from offline to online driven by changing customer preferences and demographics.

Shares in Temple & Webster (ASX:TPW) are trading x per cent high/lower at $x.xx.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.