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.

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