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Huddled Group PLC - investor in e-commerce brands - Issues trading update ahead of Tuesday’s annual general meeting. Says the focus for the current financial year is centred around the three interdependent fundamental aspects of the business: customer acquisition and retention, breadth and depth of stock, and fulfilment. This focus is delivering sustained momentum with a strong start to financial 2024. Unaudited revenue from Discount Dragon in the second quarter is expected to be not less than £2.7 million, which would represent an increase of around 28% versus the first quarter. Unaudited revenue from Food Circle Supermarket since its acquisition in April is expected be around £350,000 for the second quarter, resulting in total anticipated second quarter revenue for the group in excess of £3 million, which would be around 43% higher than the first quarter. ‘We are well positioned to take our brands to more customers across the UK and scale our businesses towards profitability,’ company says.
Current stock price: 3.30 pence
12-month change: up 10%
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