Income Statement

You can download our 3 year financials here

£m FY22 FY21 YoY%
Total sales 350.3 340.2 +3%
Cost of sales (208.6) (204.7) +2%
Gross profit 141.7 135.5 +5%
Gross profit margin 40% 40% 60bps
Fulfilment costs (62.6) (58.3) +7%
% of total sales 18% 17% 70bps
Contribution profit 79.1 77.2 +2%
% contribution profit margin 23% 23% (10)bps
Advertising costs (34.1) (42.3) (19)%
% of total sales 10% 12% (270)bps
General and administrative costs2 (43.0) (36.4) +18%
% of total sales 12% 11% 160bps
Adjusted EBIT 2.0 (1.5) +233%
New Customer Contribution loss (7.2) (7.7) (6)%
Advertising costs (34.1) (42.3) (19)%
Investment in New Customers1 (41.3) (50.0) (17)%
Repeat Customer Contribution profit1 86.2 84.9 +2%
Repeat Customer Contribution margin 27.4% 29.9% (250)bps
  1. Following a review of the allocation method for fulfilment costs in FY21, we have reallocated costs in the FY20 comparative figures on a consistent basis.  This has resulted in a £0.7m movement of costs from Repeat to New Customer costs, which we think more accurately reflects the basis on which these costs arose.
  2. G&A costs reported here are as per the income statement in the FY21 ARA, excluding £3.6m of acquisition related amortisation costs, £2m of fair value adjustments relating to open FX contracts and £0.7m of PLC company foreign exchange revaluations. In FY21, G&A costs now include £1.0m of share-based payment charges, previously reported as adjusted items (FY20: £1.0m) and £3.0m of expenditure in Marketing R&D.