Source - Alliance News

Made.com Group PLC - London-based furniture retailer - Reports a widened pretax loss of £31.4 million for 2021 from £14.6 million in 2020. Puts this down to a ‘dramatic’ increase in the cost of freight, which grew £32 million compared to 2020 rates. Continues that one-off costs of £5.3 million in relation to its initial public offering and share-based payment charges of £3.5 million also contributed to the loss.

Posts a revenue jump of 50% to £371.9 million from £247.3 million the year prior. Attributes the growth to a strong trading performance despite ‘extensive’ supply chain disruption experienced in 2021.

Notes that £56 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 £500 million to £540 million, reflecting a 15% to 25% increase compared to 2021.

Expects to report annual revenue of £465 million to £500 million, representing 25% to 35% growth on 2021.

Current stock price: 77.10 pence, up 8.0% on Tuesday

12-month change: down 61%

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