Booktopia enjoys strongest December in its 16-year history
Online bookstore Booktopia has seen the strongest December in its 16-year history, leading to a 52 per cent increase in revenue during the first half to $113 million.
The business also saw unaudited EBITDA improve fivefold to $8 million, compared to the same period of FY20, which brought in $1.3 million.
“The Christmas period saw strong demand from customers, [and] our investment in additional capacity and automation allowed us to meet customer orders in a timely fashion and ensured we were able to have the biggest December in the history of our company,” said chief executive Tony Nash.
“We’re confident the momentum and growth we experienced in 2020 should continue throughout the year and beyond and, as a result, the business is on track to meet forecasts provided in the company’s prospectus.”
The business completed the first stage of its $20 million expansion and automation project at its Lidcome DC in November, which enabled it to double the amount of products it can ship in a day from 30,000 to 60,000.
Booktopia also recently completed its long-awaited IPO, raising $43.1 million in the process. At the end of the first day of trading, the business was worth $315.8 million.