Cettire sales, profits increase in December half
Australian-listed global luxury online retailer Cettire has revealed an “exceptional half” for the business as it continues to grow rapidly while delivering significant profitability.
For the six months to December 31, sales grew 65 per cent to $187.7 million while tax-paid profit reached $8 million.
And demand remained strong through January when sales increased by more than 80 per cent year on year.
A net cash balance of $53.3 million was reported at the end of the half while the adjusted EBITDA margin rose 8.9 per cent to $16.7 million.
Cettire founder and CEO, Dean Mintz, said he is “pleased” the company was able to continue on its growth trajectory while cycling a period of significant marketing investments during the second quarter of FY22.
“We remain laser-focused on executing our strategy to maximise profitable revenue growth. The first half result highlights the potential of our unique business model as well as the benefits of our proprietary technology platform as we continue to scale globally.”
During the half, the company launched a Chinese-language site as part of its localisation initiative to penetrate emerging markets.
This move enabled a 101 per cent increase in gross revenue in these markets compared to the previous period.