Online furniture trader Temple & Webster has claimed a 556 per cent rise in first-half earnings, however the figures did not impress investors.
The company on Tuesday said first-half earnings were $14.8 million for the six months to December 31, better than the $2.3 million for the same 2019 period.
Australians invested heavily on refurbishing their homes last year, as they spent more time there due to coronavirus rules.
Temple & Webster is still to provide statutory net profit figures. Chief financial officer Mark Taylor said this would be provided in a couple of weeks.
RBA Capital Markets analyst Tim Piper said the result was a solid one but missed analysts' expectations.
He said the company was the market leader in online furniture and homewares in Australia and would continue to benefit from takeup of online shopping.
Shares were lower by 5.43 per cent to $10.44 at 1152 AEDT.
