However, the e-tailer remained cautious about profits for 2008 as Christmas sales failed to live up to expectations, with technical problems on the web site leading to lower conversion rates in the run-up to Christmas. In the four weeks to its last shipment date before Christmas, online sales rose 47 per cent year on year, despite record traffic levels for the site.
The retailer also experienced a delay in the appointment of licensees for the Atticus brand in North America, which it acquired last July for US$4.2 million (£2.2 million). This has forced EBTM to warn on profits for this financial year. The retailer believes they will fall significantly short of previous expectations.
EBTM chairman David Howell said: “It is pleasing to be able to report maiden operating profit at this stage. While the delay in the appointment of licensees in North America for the Atticus brand and the technical difficulties we have experienced with our trading platform have temporarily held the business back, we remain confident that we operate in a growth market.
“We have established a strong platform, which has exciting expansion opportunities in the UK and for future periods internationally.”
The retailer's board has also announced the appointment of former non-executive director Simon Hargreaves as interim finance director while EBTM finds someone to fill the role permanently.
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