Adore Beauty’s first-half earnings soar

Adore Beauty’s earnings more than doubled in the fiscal first half, which management says reflects the early phase of the company’s growth strategy.
The company’s earnings before interest and taxes (EBIT) for the six months ended December 31 jumped 118 per cent to $2.7 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 94 per cent to $4.6 million.
Revenue for the period was up 2.3 per cent to $103.0 million.
“Our first half result demonstrates the effectiveness of the early phases of our strategy refresh to improve Adore Beauty Group’s quality of earnings and long-term profitability as we evolve over the next three years into a leading omnichannel beauty retailer,” said CEO Sacha Laing.
According to the company, the key initiatives of its three-year strategy include improving the quality of earnings through promotional events, accelerated growth of owned brands, and operating cost and working capital efficiencies.
Adore Beauty will open its first retail store on February 1 at Westfield Southland in Victoria and its second store at Watergardens in early March. The company plans to open four to six additional locations later this year.
The retailer reaffirmed its EBITDA margin guidance of 4-5 per cent for FY25.
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