BUZZ-Australia's Temple & Webster plunges to over two-year low on profit miss

Reuters02-12 11:38
BUZZ-Australia's Temple & Webster plunges to over two-year low on profit miss

** Shares of Temple & Webster TPW.AX fall as much as 28.8% to A$8.07, their lowest level since Dec 7, 2023

** Shares post biggest intraday pct drop since Nov 26, 2025

** Jefferies (maintains "buy", A$16.30 PT) says furniture retailer's first-half underlying net PAT of A$7.2 million ($5.14 million) missed consensus by 15%

** However, notes that co's higher-than-expected marketing cost, which impacted profit, can be 'dialled down over time'

** About 6.7 million shares traded so far, around 11x the 30-day average

** 11 analysts rate stock 'buy' on avg with median PT of A$19 - data compiled by LSEG

**YTD, shares down about 41%

($1 = 1.4021 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))

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