CTT +25.24%: the luxury ecommerce business surged to multi year highs today on a 1H report that showed the leverage in earnings coming through. Sales Revenue was up 89% and EBITDA jumped 56% in the half as they capture the shift into online in the luxury segment. Cettire were quick to much to profitability when financial markets started to tighten, a move that is paying dividends now. Growth is also continuing into 2H with EBITDA up 80% in January alone. They have $100m in cash, perhaps ready to launch a buyback or grow through acquisition.
- This is a well owned stock, the numbers today still beating the more bullish of forecasts.
MM is neutral CTT
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