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Made.com sees H1 losses narrow to £10.1m

During the period, revenue grew 61% to £171m from £106.3m and was boosted by a strong second quarter

Made.com has revealed that it has narrowed its pre-tax losses for the six-months period ending 30 June 2021 to £10.1m from £15.2m the prior year.

During the period, revenues grew 61% to £171m from £106.3m and was boosted by a “strong’ second quarter.

Despite the ongoing supply chain issues, gross sales reached £213.9m compared with £138.6m in 2020.

Looking ahead, the group said it expects its full year revenues to hit £410m, on the assumption that the global supply chain disruptions do not “deteriorate further”.

Philippe Chainieux, CEO at Made.com, said: “I am very pleased with the progress made in the first half of the year, which is in line with the long-term goals set out at our IPO in June. We have continued to see strong and sustained consumer demand for our exclusive, design-led products and have gained significant market share with growth in all eight of our markets.

“Thanks to our agile business model and supplier relationships, we are well-positioned to navigate the industry-wide global supply chain disruption, which is expected to continue into the first half of next year. “

He added: “We have multiple levers to drive superior growth and will continue to strengthen our model through the ongoing implementation of our strategy: to invest in our unique customer proposition through further developing our curated, design-led range, enhancing customer experience, investing in our brand and expanding internationally.”

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