6th Jan 2022 12:09
(Alliance News) - Made.com Group PLC on Thursday posted stellar annual sales growth, as the furniture seller said "self-help" measures ensured it weathered supply chain disruption.
Made.com said gross sales rose 38% annually to GBP434 million in 2021, and 79% on a two-year basis.
Active customer numbers increased 26% to 1.3 million and the average order value increased 7.9% to GBP246.
"I am delighted with how well the business is performing, with strong customer growth in all markets and the self-help measures implemented in H2 2021 now mitigating the impact of industry wide supply chain issues," Chief Executive Philippe Chainieux said.
Made added that it has seen a boost in modular and social seating products. Its marketplace foray into candles and home fragrances was "particular highlight", the company added.
Made's annual growth came despite some factory disruption. The issues meant 20% of key furniture lines were not available during the peak autumn trading period. Factories have since reopened and shipping disruption is easing.
Looking ahead, it expects average lead times of three to four weeks to be achieved in the first half of 2021.
Chainieux added: "Indeed, by the end of H1, we expect average lead times to be significantly below pre-lockdown levels and, with the acceleration of the homeware product range, the company is well positioned to deliver its strategic initiatives in 2022."
Made floated in London back in June, pricing its initial public offering at 200 pence per share.
Life on the London Stock Exchange has been somewhat tricky for the sofa seller, with shares currently priced at 140.60p, up 0.3% on the day, but down 30% from its IPO price.
By Eric Cunha; [email protected]
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