The Very Group returns to profit in FY20

The Very Group, which operates online retail brands Very.co.uk and Littlewoods.com, said in a statement that Very.co.uk retail sales increased 10.5 percent to 1,229.6 million pounds driving Very.co.uk revenue up 6.8 percent to 1,589.8 million pounds and group revenue growth of 2.9 percent to 2,050.7 million pounds. Littlewoods, the company added, managed decline slowed at 8.8 percent to 460.9 million pounds compared to 11.3 percent drop in FY19. The group returned to profit, recording profit before tax of 48 million pounds, while underlying group EBITDA was lower by 2.9 percent to 264.4 million pounds and group gross margin declined 3.1 pts to 36.5 percent.