19 May 2024, 16:28
By Furniture News Jun 06, 2022

Very sees Home revenue decline

Following a record year, Home revenue was down -20.5% at The Very Group as of the end of Q3 (2nd April 2022), as customers "continued to shift away from one-off spend on large home items towards a more typical basket, which prioritised clothing and sportswear", states the retailer.

Pre-exceptional EBITDA increased +12.2% to £236.8m, while the profit before tax for the period increased by +80.9% to £79.2m (after exceptional items of £21.1m).

Total revenue decreased by -6.1% to £1678.3m, yet, contrasted with a pre-pandemic comparative, this represents an increase of +9.5% on a Yo2Y basis.

Very Pay revenue (rendering of services) for the group increased by +6.5%, primarily driven by interest income, which increased +4.4%, and accounts for the majority of total Very Pay income.

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