2331 GMT - Temple & Webster's first-half results contradict the bear thesis that growth and margin are mutually exclusive, RBC analyst Wei-Weng Chen says. The Australian furniture retailer's 1H revenue was 2.4% stronger than anticipated by Chen, who was already bullish on the stock. At the same time, a 4.2% Ebitda margin was well above the company's full-year guidance for 1%-3%. Revenue growth at the start of the June half is down relative to the December half, but Chen points out in a note to clients that it is accelerating and will benefit from a softer prior period. RBC has an outperform rating and A$14.28 target price on the stock, which is up 7.9% at A$15.41. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 18:31 ET (23:31 GMT)
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