Christmas surge smashes expectations at online bookseller Booktopia
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Online bookseller Booktopia has smashed analyst expectations just months after its debut on the ASX after reporting record sales over the key Christmas period.
In a trading update on Wednesday, Booktopia revealed its revenue for the first half of the financial year rose 52 per cent to $113 million, fuelled by the company’s strongest-ever sales through December, with nearly 730,000 books sold.
Booktopia CEO Tony Nash at the online book retailer s listing ceremony.
Credit:Steven Siewert
Earnings also skyrocketed, jumping over 500 per cent to $8 million for the half. Shares in the e-commerce player rose as much as 15 per cent, before closing up 9 per cent at $2.90, as investors responded positively to the news.
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Corporate governance experts are urging more of Australiaâs big companies to repay funds received through the federal governmentâs JobKeeper wage subsidy scheme, warning taxpayers will bear the brunt of the $90 billion cost for decades.
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