dusk Group Limited (ASX:DSK) Announces 1H FY25 Results
Financial Performance
dusk Group Limited reported sales of $87.4 million for the first half of FY25, a 12.3% increase compared to 1H FY24. Like-for-like sales grew by 10.6%, with store sales up 7.4% and online sales increasing by 68.0%. The company achieved a gross profit of $56.9 million, a 13.4% rise from the previous year. The gross profit rate was 65.1%. Pro forma EBIT reached $13.8 million, up 20.0% year-on-year. dusk ended the period with net cash of $38.5 million and no debt.
Dividends
The Board declared a fully franked interim dividend of 5 cents per share and a fully franked special dividend of 5 cents per share, totaling 10.0 cents per share for 1H FY25.
Executive Comments
CEO and Managing Director Vlad Yakubson stated, “We have had a strong start to FY25 with an improved sales performance in the first half reflecting the execution of our product-led turnaround strategy along with a focus on the digital store experience. The online sales result has been one of the highlights of the overall business performance, being driven by elevated content, digital marketing and the capabilities of our new site. The new leadership team along with talent renewal across the broader business have added significant value to the business which is evident in the results to date.”
Outlook
dusk Group Limited is optimistic about the second half of FY25, with continued sales growth and plans to expand its Bath and Body category. The company launched its first collaboration of the year, the White Lotus x dusk product range, and expects to open one store while closing two stores by the end of FY25. dusk reports that it maintains a strong financial position with no debt and ongoing cost control measures to mitigate inflationary pressures.
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