// Made.com’s full-year losses deepen from £4.9m to £5.7m
// However, sales surged 37% year-on-year to £173.4m
Made.com has reported deepening full-year losses on the back of a sales jump and investment in its international expansion.
The furniture retailer booked a pre-tax loss of £5.7 million in 2018, compared to the loss of £4.9 million in 2017.
Made.com attributed the widening losses to a 45.6 per cent increase in distribution costs.
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However, the retailer still managed to record full-year sales of £173.4 million – a 37 per cent year-on-year jump.
Meanwhile adjusted EBITDA improved with a loss of £400,000 compared to a loss of £2.2 million the previous year.
Made.com credited its performance to a 50 per cent increase in online and technology developments, international expansion, a redevelopment of its flagship London showroom on Charing Cross Road and a slew of pop-up stores in Sweden and Denmark.
The retailer’s full-year trading update comes on the same week chief executive Philippe Chainieux said the firm was mulling a rental offering for customers.
Made.com also announced this week the appointment of former Asos global customer development director Nicola Thompson to the newly-created role of chief operating officer.