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Let’s Explore Group PLC on Thursday said it aims to buy a beer-delivery company as it reported a widened half-year loss.
The Nottingham-based provider of home-based entertainment VR products said pretax loss in the first half of 2023 widened 19% to £1.1 million from £938,000 a year prior. Revenue fell to 40% £62,000 from £103,000.
Administrative expenses increased 58% to £1.3 million from £858,000.
Meanwhile, the company said it is buying beer-delivery company Lancaster-based Huddled Group Limited for £4.0 million, to create a new enlarged company focused on growing a portfolio of e-commerce brands.
Let’s Explore said that Huddle’s trading business Discount Dragon was ‘a fast-growing direct-to-consumer e-commerce business focused on the sale of branded fast moving consumer goods - predominantly dry and tinned groceries, and beverages.’
Let’s Explore shares were down 1.8% at 2.70 pence each in London on Thursday morning.
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