Notonthehighstreet records rising profits though sales stay flat

Notonthehighstreet has recorded an almost-doubled operating EBITDA for its full-year results, despite sales remaining broadly flat.

For the year ended 31 March, the UK e-tailer saw an 82 percent jump in operating EBITDA from 1.7 million pounds to 3.1 million pounds, helped by more targeted marketing and prudent cost management. However, full-year sales at the company were broadly flat, falling slightly to 35.2 million pounds from 35.9 million pounds the year before.

Post-tax losses at the company narrowed significantly year-on-year to 1.5 million pounds from 3.1 million pounds, while its active customer base rose by 3 percent to 2.6 million.

Darren Shapland, chairman of Notonthehighstreet 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.”

Photo credit: Notonthehighstreet, Facebook

 

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