×

Notonthehighstreet revenue is flat but H2 improves and loss narrows

Published
today Oct 11, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

E-tailer Notonthehighstreet said Friday that a more targeted approach to marketing started to pay off in the year to the end of March. The company managed to increase its active customers to 2.6 million and said that its performance improved in the second half with operating profits up.


Notonthehighstreet



While total sales came in just short of the previous year's £35.2 million, as the business focused on customers with greater long-term value, this resulted in revenue growth in the second half.

Operating profits (EBITDA) almost doubled, from £1.7 million to £3.1 milion, benefitting from that more targeted marketing strategy, we’re told. But the firm remains loss-making, although the statutory post-tax loss narrowed to £1.5 million from £3.1 million.

As well as the increase in active customers, the firm’s Net promoter Score increased from 66% to 70%.

Chairman Darren Shapland described FY19 as a “positive year’ for the company and said he was “pleased with the results and overall performance of the business, particularly in a challenging consumer environment.”

He also said that the firm’s new CEO, Claire Davenport, previously CEO of HelloFresh UK, “has an extensive background of successfully scaling businesses and disrupting markets,” which bodes well for future growth.

Davenport, who has only been with the business since August, said the firm’s key priorities include continuing to invest in its tech platform and to focus its efforts on "creating a step change in our Partner and customer experience.” She said the journey will take time but that “activity is already in full swing as we approach Christmas, our busiest time of year.”

The 13-year-old business focuses on gifts, including fashion accessories, jewellery, bridal products, beauty, homewares and more.

Copyright © 2019 FashionNetwork.com All rights reserved.