8th Mar 2022 14:42
Made.com Group PLC - London-based furniture retailer - Reports a widened pretax loss of GBP31.4 million for 2021 from GBP14.6 million in 2020. Puts this down to a "dramatic" increase in the cost of freight, which grew GBP32 million compared to 2020 rates. Continues that one-off costs of GBP5.3 million in relation to its initial public offering and share-based payment charges of GBP3.5 million also contributed to the loss.
Posts a revenue jump of 50% to GBP371.9 million from GBP247.3 million the year prior. Attributes the growth to a strong trading performance despite "extensive" supply chain disruption experienced in 2021.
Notes that GBP56 million of its revenue is still deferred due to these supply chain challenges.
States that it is no longer expecting tailwind from the market in 2022, as consumer demand has been "soft" so far this year. Expects growth to be driven by its "dramatically" improved customer proposition.
Guides for full-year gross sales of GBP500 million to GBP540 million, reflecting a 15% to 25% increase compared to 2021.
Expects to report annual revenue of GBP465 million to GBP500 million, representing 25% to 35% growth on 2021.
Current stock price: 77.10 pence, up 8.0% on Tuesday
12-month change: down 61%
By Abby Amoakuh; [email protected]
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