Temple & Webster (ASX:TPW) revenue up despite tough retail conditions

Company News

by Kathy Skantzos

Australia’s largest e-commerce company in the furniture and homewares market, Temple & Webster Group (ASX:TPW), reported its FY2020 revenue is up 74 per cent to $176.3 million compared to the prior corresponding year, despite tough retail conditions.

Revenue in the second half of the year increased 96 per cent with Q4 revenue lifting 130 per cent, compared to the prior corresponding period.

EBITDA for the year grew by 483 per cent to $8.5 million.

Active customers increased 77 per cent year on year, with many customers opting for online shopping, while the company’s employees transitioned to working from home.

Cash is at $38.1 million as of 30 June 2020.

Shares in Temple & Webster Group (ASX:TPW) are trading 3.73 per cent higher at $8.07.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.