Notonthehighstreet sees operating profits double in full-year results
Online gifts retailer Notonthehighstreet saw its operating EBITDA profits increase to £3.1m in 2019, from £1.7m the previous year.
The retailer said this was the result of a “more targeted marketing strategy”, and it reported an improved performance in the second half of the year.
It said total sales were sustained just below the previous year’s levels as the business focussed on customers with greater long-term value, which resulted in revenue increasing to £35.9m during the period.
The business also increased its active customer base to more than 2.5 million.
Chairman Darren Shapland said: “FY19 was a positive year for notonthehighstreet and I’m pleased with the results and overall performance of the business, particularly in a challenging consumer environment.
“Our new CEO, Claire Davenport, previously CEO of HelloFresh UK, has an extensive background of successfully scaling businesses and disrupting markets and we’re delighted to welcome her into the business as she works with the team to deliver on our exciting plans for the future.”
CEO Claire Davenport added: “I joined notonthehighstreet in August of this year to build on the solid foundations that the team worked tirelessly to lay down in FY19.
“Key priorities include continuing to invest in our tech platform and focus our efforts on creating a step change in our partner and customer experience. Our journey will take time but we have a strong, committed and passionate team of people and activity is already in full swing as we approach Christmas, our busiest time of year.”
