Income Statement

You can download our 3 year financials here

£m FY21 FY20 YoY%
Total sales 340.2 202.9 68%
Cost of sales (204.7) (125.3) 63%
Gross profit 135.5 77.6 75%
Gross profit margin 40% 38% +160bps
Fulfilment costs (58.3) (35.0) 67%
% of total sales 17% 17% (10)bps
Contribution profit 77.2 42.6 81%
% contribution profit margin 23% 21% +170bps
Advertising costs (42.3) (19.8) 114%
% of total sales 12% 10% +270bps
General and administrative costs2 (36.4) (25.2) 44%
% of total sales 11% 12% (175)bps
Adjusted EBIT (1.5) (2.4) (37)%
New Customer Contribution loss (7.7) (3.8) 105%
Advertising costs (42.3) (19.8) 114%
Investment in New Customers1 (50.0) (23.5) 113%
Repeat Customer Contribution profit1 84.9 46.4 83%
Repeat Customer Contribution margin 30% 27% +320bps
  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.