Gousto on track for record profits despite cost-of-living crisis
Gousto is on track to post record profits this year despite record food inflation and the cost-of-living crisis, the meal kit box subscription business said.
Reporting that it returned to profit in the first half of 2023, Gousto said it was on course to post full-year profits of £20m-plus and positive cash flow generation, having managed food inflation impact “through the use of automation and AI”.
Founder and chief executive Timo Boldt said: “Since launching Gousto in 2012 food price inflation averaged less than 1.5%, but within months of the Ukraine war we had to manage sustained double-digit growth in food costs, with many individual ingredients hitting record levels.”
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