Notonthehighstreet operating profit surges

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Photo: Google Maps
Photo: Google Maps

Notonthehighstreet’s full-year results have shown improved performance, with its operating EBITDA profiting almost doubling year on year from £1.7m to £3.1m.

 

The company puts the encouraging results down to a growing customer base, more prudent cost management and a more targeted marketing strategy.

 

Full-year revenues tell a slightly different story, remaining broadly flat with a marginal decline year on year from £35.9m down to £35.2m.

 

The company attributed the results to a 3% increase in the number of active customers (those that transacted one or more times during the year), which had risen to 2.6m at the year ended 31 March.

 

The company also reduced its operating costs compared to the previous year, with a ‘more disciplined approach to marketing.’

 

Claire Davenport, who became Notonthehighstreet’s new chief executive in August, said that the company’s key priorities for the coming year were to forge ahead with modernising its tech platform, and to strengthen its e-commerce foundations in an increasingly competitive environment.

 

Davenport added: “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,” she said.

 

Chairman Darren Shaplen commented: “The business continues to perform in line with the Directors’ expectations and we are confident that this will continue into FY20 and beyond.”

 

www.notonthehighstreet.com

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