Ten Lifestyle Group plc Announces Consolidated Earnings Results for the Year Ended 31 August 2018; Provides Earnings Guidance for the Year Ending 31 August 2019
For the year ending 31 August 2019, the company expects net revenue to show continued growth, materially above the 13% growth in net revenue that the group achieved in the year ending 31 August 2018, but materially below previous expectations. Adjusted EBITA for 2019 is also expected to be below previous expectations, largely due to continued investment in the platform and lower than expected Net Revenues. The Board expects the Group's operational gearing to increase as the year progresses, especially in the second half as the investment in the technology platform takes effect.