' s second quarter revenue increased by 84% to 89 million pounds

Source:77° Global Furniture Media

According to this quarter' s data, the company expects revenue to grow 65% year-on-year to 410 million pounds.

On September 14, British furniture e-commerce company announced its first financial report after its June IPO.

The report shows that the company' s operating income in the second quarter reached 89 million pounds, an increase of 84%; the first half of the revenue was 171 million pounds, an increase of 61%, and the profit margin in the first half of the year fell by 306 basis points to 48.7%.

Net sales in the first half of the year increased 54% from 139 million pounds to 214 million pounds.

The net loss in the second quarter was approximately 10 million pounds, including IPO-related expenses of 5.4 million pounds, compared with a loss of 15.2 million pounds in the same period last year.

In the first half of the year, made newly launched more than 8,000 SKUs to further strengthen the household products series.

The company achieved impressive growth in its major markets in the first half of the year. Sales in the UK market increased by 55% year-on-year; sales in the European market increased by 53%.

The financial report also revealed that in early August, its storage space in the UK increased by 172,000 square feet (about 16,000 square meters), almost doubled.

Looking forward to the full year, made expects revenue to grow by 65% year-on-year to 410 million pounds, and it is expected that although supply chain problems will not worsen in the second half of the year, the goods will still be delivered later than expected and revenue will be affected.

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