Made.com reported narrowing losses before tax for the first half, with gross sales and adjusted profits for the period offsetting global freight issues.
For the six months to June 30 the pureplay furniture specialist reported a 5.1% narrowing of losses for the period to £10.1m, while gross sales jumped 54% to £214m.
Revenues for the period also jumped 61% to £171m, while the retailer reported a small adjusted EBITDA profit of £1.1m, a 12% increase from the previous year’s loss.
Made.com’s net cash position also strengthened significantly for the period to £175m, while gross margins softened by 306bps to 49%.
The retailer noted in particular that its gross margins had been hit by the ongoing global supply chain issues and wider financial headwinds.
Made.com chief executive Philippe Chainieux said: “I am very pleased with the progress made in the first half of the year, which is in line with the long-term goals set out at our IPO in June.
“We have continued to see strong and sustained consumer demand for our exclusive, design-led products and have gained significant market share with growth in all eight of our markets.
“Thanks to our agile business model and supplier relationships, we are well-positioned to navigate the industry-wide global supply chain disruption, which is expected to continue into the first half of next year.
“We have multiple levers to drive superior growth and will continue to strengthen our model through the ongoing implementation of our strategy: to invest in our unique customer proposition through further developing our curated, design-led range, enhancing customer experience, investing in our brand and expanding internationally.
“I am confident in the outlook for the full year and in Made’s long-term growth.”
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