Made forecasts 65% growth as it prepares to cut lead times has told shareholders it expects full-year sales to grow by 65% this year.

It told them that it was confident in its expectations if global supply chains do not get worse. It says it assumes extended shipping times, range availability presumes and increased shipping costs will continue in to the first half of 2022.

It came after sales in the six months to 30 June rose by 54% to £213.9m. 

A pre-tax loss of £15.2m fell to £10.1m, and would have been lower still if not for the £5.4m cost of its stock market flotation and giving employees £1.7m of shares.

It says it absorbed higher shipping costs in the first half to give it an advantage over rivals who passed on the increases and has now begun to part on part of the higher costs.

It also says it has invested in stock, warehousing and shipping availability to allow it to begin to offer an ‘industry leading lead-time proposition. Due to our curated range and deep supplier partnerships, we are well placed to do this with a relatively limited stock investment. Historically, an improvement of one week in our lead-times has resulted in a c5% sales uplift and improved levels of customer satisfaction.’ 

It will begin to introduce this towards the end of this year.



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