BWX (ASX:BWX) lifts beauty product sales

Company News

by Lauren Evans

BWX (ASX:BWX) reported revenue of $194.1 million for the year ending 30 Jun 2021, compared to $187.7 million in the prior year.

The global beauty and wellness company reported earnings before interest, taxes, depreciation and amortisation of $34.5 million, up 11.5 per cent from the prior year. 

These results were due to strong sales volumes, reflecting recovery in some regions from pandemic conditions and increased consumer adoption of retail omni-channel options, including direct-to-consumer models.

Statutory net profit after tax of $23.7 million, increased 60.9 per cent from the prior year.

CEO Dave Fenlon said, "We achieved growth in sales, gross margin and profit, with increased market share across our core categories of skincare, body and hair... We accelerated growth for our brands Sukin, Andalou Naturals and Mineral Fusion through our new strategic partnership with Chemist Warehouse, Woolworths Australia, and Walmart Canada."

BWX also announced the acquisition of a 50.1 stake in the Australian brand "GoTo Skincare". Meanwhile, they noted that markets will continue to vary in FY22, pendant on Covid-19 circumstances. 

Final dividend of 3.1 cents per share to be paid on 29 Oct 2021. 

Shares in BWX (ASX:BWX) are in a trading halt and last traded at $5.31.

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