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Lovisa Rises on Revenue Jump

Jewelry retailer Lovisa Holdings shares jumped over 6% today to $19.82 a share after the company announced their full year results today.

Here are the key highlights from this morning’s presentation:

  • Revenue up almost 60% to $458.7 million

  • Earnings before interest, tax, depreciation, and amortisation (EBITDA) lifted 61.6% to $97.2 million

  • Net profit after tax (NPAT) rose 116.3% to $59.9 million

  • Earnings per share (EPS) increased to 55.7 cents

  • Declared a 37 cent, 30% franked final dividend which is more than double than the previous financial year

In response to rising inflation, the company implemented price increases in the third quarter. That delivered sales growth with minimal impact to volumes. Lovisa’s cash on hand for the end of financial year was $24.2 million. Over the course of the year the Lovisa share price has been unable to hold a strong level keeping in line with the consumer discretionary sector as a whole.

Lovisa also opened 104 new stores and closed 19 during the period, entering new markets in Poland and Canada, and the company also entered two interesting new markets in the form of Hong Kong and Namibia.

Lovisa CEO Victor Herrero stated:

“I’m thrilled with the acceleration in the performance of the business over this financial year. I would like to thank the team for helping to deliver a seamless transition for me into the business and remaining laser-focused on the continuing success of Lovisa globally. The financial result the team have been able to achieve this year is very pleasing, with the business continuing to go from strength to strength and well placed to take advantage of future opportunities as they arise.”

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