Australia’s love of reading has seen quarterly sales at ASX-list online retailer Booktopia soar 53% in a year.
The company (ASX: BKG) had already upgraded its revenue and EDBITDA forecasts for FY2021 just two months after listing last December and today released its March quarter figures, saying it was on track to meet the upgraded full-year revenue of $217.6 million, with underlying EBITDA of $12.9 million.
March quarter revenue sat at $65 million, a $22.6 million increase on the corresponding period 12 months ago.
Year-to-date revenue to March 31 is up 50% year-on-year at $177.8 million, with quarterly underlying EBITDA rising 267% to $4.4 million and YTD EBITDA at $12.1 million to the end of Q3, up 256%.
Bookopia also reported a 45% increase in total units shipped for the quarter to 2,.09 million for the first half to 31 December 2020 (H1FY20: 3.2 million) and an average order value of $69.87.
Booktopia’s Q3 results
Booktopia co-founder and CEO Tony Nash said was promising to see the changes in consumer behavior that marked that period continue into the new year despite the absence of long-term lockdowns.
“Millions of Australians have now been introduced to the world of e-commerce and will continue to appreciate the convenience and value presented by online shopping,” he said.
“We expect demand to continue to grow for the foreseeable future as the overall market for online books grows and we continue to take more market share.”
Booktopia now has a 6% share of the total market and almost 15% of total online consumer book sales in Australia.
It listed in December 2020 at $2.30 a share. Today $BKG is trading up nearly 5% at $2.45
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