TPW +7.41%: one of the first companies to report this period, FY21 was a strong year for online furniture business Temple & Webster. Revenue up 85% helped EBITDA jump 141% for the year with strong operating margins also helped by the launch of their private label offering. Active customers grew 62% or just shy of 800k, the key will now be hanging on to this growth as in store competitors try to wrestle back part of the market. FY22 has started well with revenue up 39% vs the same period last year and with nearly $100m cash put to work they could look to be aggressive throughout the year.
MM is bullish TPW, targeting another 20% upside
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