REG - Huddled Group PLC - AGM Statement

HuddledAnnouncement

25/06/2024 07:00

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RNS Number : 6794T  Huddled Group PLC  25 June 2024

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Huddled Group plc

("Huddled", the "Company" or the "Group")

AGM Statement

Huddled Group plc (AIM:HUD), the circular economy e-commerce business will be
holding its Annual General Meeting today at 11:00am. At the meeting, Martin
Higginson, Group CEO, will make the following statement:

"As outlined at our FY23 results, our focus for the current financial year is
centred around the three interdependent fundamental aspects of the business on
which we need to build: customer acquisition and retention, breadth and depth
of stock, and fulfilment.

This focus is delivering sustained momentum across the Group. FY24 has started
strongly, with unaudited revenue from Discount Dragon in Q2 2024 expected to
be not less than £2.7m, which would represent an increase of circa 28% vs Q1
2024.

Food Circle Supermarket, soon to be rebranded Nutricircle, has bedded down
well. Unaudited revenue since its acquisition on 11 April 2024 is expected be
circa £350k for Q2 2024, resulting in total anticipated Q2 2024 revenue for
the group of in excess of £3m, which would represent an increase of circa 43%
vs Q1 2024.

As we deepen our understanding of the sector and its opportunities, we are
continuing to refine our model to deliver solutions for all of our
stakeholders. As circular economy businesses, Discount Dragon and Nutricircle
help to prevent waste by sourcing high-quality, branded surplus products and
offering them to consumers, often at substantial discounts to high street
prices.

Looking ahead to the remainder of the financial year, we can clearly see what
we need to focus on in order to capitalise on the opportunities available to
us. We are well positioned to take our brands to more customers across the UK
and scale our businesses towards profitability."

 

 Enquiries:

For further information please visit www.huddled.com/investors, or contact:

 

 Huddled Group plc                                    investors@huddled.com

 Martin Higginson

 David Marks

 Daniel Wortley

 Zeus (Nominated Adviser and Sole Broker)             Tel + 44 (0) 203 829 5000

 Nick Cowles, James Hornigold, Alex Campbell-Harris   (Investment Banking)

 Dominic King                                         (Corporate Broking)

 Alma Strategic Communications (Financial PR)         huddled@almastrategic.com

 Rebecca Sanders-Hewett

 Sam Modlin

 Kieran Breheny

 

 

 

 

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