25th Jun 2024 12:55
Huddled Group PLC - investor in e-commerce brands - Issues trading update ahead of Tuesday's annual general meeting. Says the focus for the current financial year is centred around the three interdependent fundamental aspects of the business: customer acquisition and retention, breadth and depth of stock, and fulfilment. This focus is delivering sustained momentum with a strong start to financial 2024. Unaudited revenue from Discount Dragon in the second quarter is expected to be not less than GBP2.7 million, which would represent an increase of around 28% versus the first quarter. Unaudited revenue from Food Circle Supermarket since its acquisition in April is expected be around GBP350,000 for the second quarter, resulting in total anticipated second quarter revenue for the group in excess of GBP3 million, which would be around 43% higher than the first quarter. "We are well positioned to take our brands to more customers across the UK and scale our businesses towards profitability," company says.
Current stock price: 3.30 pence
12-month change: up 10%
By Jeremy Cutler, Alliance News reporter
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