• Revenue up 8.8% to $405.9m
• Gross Margin up 170bps to 82.4%
• EBIT up 10.7% to $90.2m

Lovisa Holdings Limited has reported solid sales and profit growth for the first half of FY25. Revenue was $405.9m, up 8.8% on 1H FY24, primarily driven by continued growth in the store network. Comparable store sales were up 0.1% on the prior half year. The company has continued to focus on pricing and promotion management, resulting in a 170 basis point increase in gross margin to 82.4%. EBIT was up 10.7% to $90.2m, and net profit after tax increased by 6.5% to $56.9m. The company opened 57 new stores during the period, taking the global store network to 943 stores across 49 markets. Cash flow remained strong, with $141.1m in cash from operations before interest and tax, and net cash of $6.7m at the end of the half year. The board has announced an unfranked interim dividend of 50.0 cents per share.

For the first 7 weeks of the second half of FY25, comparable store sales were up 3.7% and total sales were up 12.9% compared to the same period in FY24. The company expects to continue its global store rollout momentum, with 16 new stores opened since the end of the half and plans to open its 50th market in the coming week.

Lovisa remains focused on opportunities for expanding both its physical and digital store network, with structures in place to drive growth in existing and new markets. The company's strong balance sheet and available cash and debt facilities support continued investment in growth.