Lovisa Holdings Limited announced FY22 results for the period ended 30 June 2022

Lovisa Holdings Limited (ASX: LOV) announced its FY22 results for the period ended 30 June 2022:

• The company has delivered its FY22 revenue of AU$458.7 million, a 59.3% increase from the previous corresponding period, with comparable store sales up 19.9% compared to FY21.
• At the end of FY22, It has a net cash position of AU$24.2 million with AU$50 million of cash debt facilities and AU$20 million of bank guarantee facilities in place.
• Gross Profit increased 63.8% on FY21 with Gross Margin at 78.9%, mainly due to price increases implemented in the second half and favorable exchange rates compared to the previous year, partly offset by ongoing higher freight costs.
• The company’s board has announced a final dividend of 37.0 cents, taking full-year dividends to 74.0 cents, indicating the strong cash outcome for the period and the continued strength of its balance sheet.

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