Notonthehighstreet operating profit almost doubles

586
Notonthehighstreet narrows pre-tax losses but operating profit almost doubles
Notonthehighstreet said a promotion-driven second half saw revenue growth and offset the decline in the first half. (Image: Google Maps)
// Notonthehighstreet’s operating EBITDA profit enjoyed growth: from £1.7m to £3.1m
// Revenues for the year ending March 31 marginally decline from £35.9m to £35.2m
// Notonthehighstreet’s narrows full-year post-tax losses to £1.5m compared to prior year’s £3.1m loss

Notonthehighstreet’s full year results have shown an improved performance that benefited from a growing customer base as well as targeted marketing and promotional campaigns.

For its financial year ending March 31, Notonthehighstreet’s operating EBITDA profit almost doubled year-on-year from £1.7 million to £3.1 million.

However, full-year revenues remained broadly flat, declining marginally year-on-year from £35.9 million down to £35.2 million.

Notonthehighstreet said a promotion-driven second half saw revenue growth and offset the decline in the first half.


READ MORE:


Revenues were also boosted by a three per cent increase in the number of active customers, which stood at 2.6 million by the year’s end.

Meanwhile, Notonthehighstreet’s post-tax losses narrowed dramatically to £1.5 million, compared to the £3.1 million loss recorded the prior year.

Claire Davenport, who joined as Notonthehighstreet’s new chief executive in August, said key priorities for the year ahead include continuing to invest in the tech platform and focus efforts on creating a step change in the 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,” she said.

Davenport replaced Barrie Seidenberg, who stepped down as chief executive after six months due to health reasons.

Click here to sign up to Retail Gazette’s free daily email newsletter