Cettire Limited – 2025 Interim Results Summary
Overall Report Tone
Cettire Limited delivered solid revenue growth of 11% year-over-year, despite challenging conditions in the global luxury market. However, net profit declined by 63%, primarily due to margin compression and sector-wide discounting. The company’s balance sheet remains strong, with cash increasing to $101.1 million and no financial debt.
Financial Summary
| Metric | HY24 (Dec 2024) | HY23 (Dec 2023) | Change |
|---|---|---|---|
| Revenue | $393.98m | $354.26m | +11% |
| Gross Profit | $70.81m | $82.18m | -14% |
| Net Profit After Tax (NPAT) | $4.75m | $12.81m | -63% |
| Operating Cash Flow | $29.8m | $65.0m | -54% |
| Net Tangible Assets Per Share | 2.7c | 5.9c | -54% |
| Dividend Declared | None | None | N/A |
Pro-Forma Adjustments & Impact
- Revenue growth of 11% was supported by a 21% increase in active customers and a 4% rise in average order value.
- Gross profit margin declined, reflecting higher discounting activity across the sector.
- Lower advertising spend (-10%) helped mitigate some margin pressure.
- Cash position strengthened to $101.1m, providing flexibility for future growth initiatives.
Positive Surprises / Potential Concerns
✅ Revenue growth of 11% despite headwinds in the luxury retail sector.
✅ Strong customer engagement, with 67% of revenue from repeat customers.
⚠️ Net profit down 63%, reflecting margin pressures and softer industry demand.
⚠️ Operating cash flow down 54%, although the company remains cash-rich.
Results vs Market Expectations
✅ Revenue growth met expectations, underpinned by higher order values and customer retention.
✅ Cost control in marketing and advertising helped protect margins.
⚠️ Weaker gross profit margins were slightly below expectations, likely due to aggressive sector-wide discounting.
⚠️ Lower earnings may raise concerns about long-term profitability trends.
Outlook & Guidance
✅ Customer acquisition strategy remains strong, supporting continued growth.
✅ Solid cash balance enables investment in technology and fulfilment improvements.
⚠️ Luxury sector demand remains uncertain, with continued price sensitivity.
⚠️ No formal earnings guidance provided, leaving some uncertainty for investors.
Disclaimer: This information is provided purely for educational purposes. It takes no account of an individual’s personal financial circumstances and hence can in no way constitute financial advice. The above data may be subject to errors or inconsistencies for which the author takes no liability. It is imperative that all investors do their own research or if they need advice, seek it from a qualified financial adviser.
Quick Take: H1FY25 ASX:CTT