Redbubble Ltd (ASX:RBL) on Thursday reported first half operating EBITDA profit of $2.5 million, a 314% increase over the same period a year earlier.
Redbubble Ltd posted revenue of $102.3 million in the period. This was 30% higher than the same period last year. The company did not announce a dividend.
The Redbubble share price was relatively muted, losing 5 cents on Thursday to trade at $1.85.
Redbubble Limited is one of the leading global marketplace for independent artists. Redbubble’s community of passionate creatives sell uncommon designs on high-quality, everyday products such as apparel, stationery, housewares, bags and wall art.
Redbubble reports that it continues to demonstrate significant momentum, and scale on the basis of strong fundamentals. Marketplace dynamics also remain healthy, the company said. Customer numbers increased by 40.2% YoY to 2.35 million
Outlook
Redbubble reiterates it continues to be well positioned to achieve top line constant currency growth rates consistent with those achieved in FY2017 and remains confident of meeting its previous guidance of moving into ongoing Operating EBITDA profitability late in FY2018.
The Redbubble Ltd share price has gained 21% since the beginning of the year, while the S&P/ASX 200 Index has fallen roughly 2%. The Redbubble share price has gained 124% in the last 12 months.
