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Discount Dragon revenues have reached £1.6m during the post acquisition period by Huddled Group between October and December 2023.
Q4 2023 revenue increased by 37.3% to £1.8m compared with £1.3m in Q3 2023, meanwhile orders placed increased by 18.3% to 48.5k.
Discount Dragon’s Q1 2024 revenues increased by 21.3% to £2.1m compared with £1.8m reported in Q4 2023. Orders placed also increased by 31.4% to 63.8k.
Regarding the wider results for the Huddled Group, the company delivered £13m in profit after tax.
Martin Higginson, chief executive officer of Huddled Group, said: “Discount Dragon has continued to deliver solid growth both in terms of revenue and customer numbers since we acquired the business. At a challenging time for consumers, the offering is extremely relevant, and we feel that being able to offer great products, including many of the biggest brands at significantly discounted prices, delivered to the customer’s door, will have wide appeal.
“Supported by a strong balance sheet, the next 12 months will be a year of cash investment in the key areas of marketing, stock and fulfilment. We are confident this investment will continue to stimulate growth and deliver long term shareholder value.”
