UK's Huddled H1 gross profit more than doubles
UK's Huddled H1 gross profit more than doubles
Overview
UK live commerce firm's H1 revenue fell yr/yr as business pivoted from traditional e-commerce
Gross profit more than doubled, and adjusted EBITDA loss narrowed from prior year
Company reports rapid growth in live commerce revenue and strong product margins post-period
Outlook
Company plans to launch on eBay Live and expand TikTok and Whatnot channels in October
Peeko Live platform set to launch on peeko.co.uk in October
Nutricircle to add Live Commerce with an educational focus before end of Q4
Result Drivers
BUSINESS PIVOT - Co said shift to live commerce drove focus on fewer, more profitable orders, impacting revenue and boosting gross profit
LIVE COMMERCE MOMENTUM - Co reported rapid growth in live commerce revenue, strong product margins, and rising customer retention post-period
PROPRIETARY SOFTWARE - Co said new 'Powered by Peeko' software enabled integration with live commerce platforms and next-day delivery, supporting growth
Company press release: ID:nRSb5295Wa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 7.14 mln |
|
H1 Adjusted EBITDA |
| -GBP 1.24 mln |
|
Reuters Recommended Reads
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Sept 25 - UK's Bango 1H revenue rises, helped by subscription platform growth
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)