| |
As reported
|
|
As reported
at constant currency
|
|
Adjusted
at constant currency
|
| |
FY25
£m
|
FY24
£m
|
YoY
%
|
|
FY24
£m
|
YoY
%
|
|
FY25
£m
|
FY24
£m
|
YoY
%
|
|
Revenue
|
250.2
|
290.4
|
(14)%
|
|
287.6
|
(13)%
|
|
248.1
|
285.7
|
(13)%
|
|
Cost of sales
|
(162.4)
|
(178.5)
|
(9)%
|
|
(170.5)
|
(5)%
|
|
(154.1)
|
(165.7)
|
(7)%
|
|
Fulfilment costs
|
(43.4)
|
(54.5)
|
(20)%
|
|
(60.4)
|
(28)%
|
|
(43.7)
|
(60.4)
|
(28)%
|
|
Gross profit pre movement in US inventory provision
|
44.4
|
57.4
|
(23)%
|
|
56.7
|
(22)%
|
|
50.3
|
59.6
|
(16)%
|
|
Movement in US inventory provision
|
1.7
|
(2.4)
|
171%
|
|
(2.3)
|
174%
|
|
(2.7)
|
-
|
n/a
|
|
Gross profit
|
46.1
|
55.0
|
(16)%
|
|
54.4
|
(15)%
|
|
47.6
|
59.6
|
(20)%
|
|
Advertising costs
|
(17.8)
|
(19.0)
|
(6)%
|
|
(18.8)
|
(5)%
|
|
(17.8)
|
(18.8)
|
(5)%
|
|
General and administrative costs
|
(31.7)
|
(37.9)
|
(16)%
|
|
(37.7)
|
(16)%
|
|
(31.9)
|
(36.1)
|
(12)%
|
| |
|
|
|
|
|
|
|
|
|
|
|
Analysed as:
|
|
|
|
|
|
|
|
|
|
|
|
Operating G&A
|
(30.6)
|
(35.9)
|
(15)%
|
|
(35.6)
|
(14)%
|
|
(30.6)
|
(35.7)
|
(14)%
|
|
Share-based payments
|
(1.3)
|
(0.4)
|
225%
|
|
(0.4)
|
225%
|
|
(1.3)
|
(0.4)
|
225%
|
|
Software as a Service costs1
|
-
|
(0.1)
|
n/a
|
|
(0.1)
|
n/a
|
|
|
|
|
|
Restructuring costs1
|
-
|
(1.3)
|
n/a
|
|
(1.4)
|
n/a
|
|
|
|
|
|
Other adjusted items1
|
0.2
|
(0.2)
|
200%
|
|
(0.2)
|
200%
|
|
|
|
|
|
|
(31.7)
|
(37.9)
|
(16)%
|
|
(37.7)
|
(16)%
|
|
(31.9)
|
(36.1)
|
(12)%
|
|
Impairment of non-current assets
|
-
|
(9.9)
|
n/a
|
|
(9.9)
|
n/a
|
|
|
|
|
|
Operating (loss)/profit
|
(3.3)
|
(11.8)
|
72%
|
|
(12.0)
|
72%
|
|
(2.0)
|
4.7
|
(143)%
|
|
Analysed as:
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBIT
|
(2.0)
|
5.0
|
(140)%
|
|
4.7
|
(143)%
|
|
(2.0)
|
4.7
|
(143)%
|
|
Adjusted items
|
(1.3)
|
(16.8)
|
(92)%
|
|
(16.7)
|
(92)%
|
|
(1.3)
|
(16.7)
|
(92)%
|
|
Operating loss
|
(3.3)
|
(11.8)
|
72%
|
|
(12.0)
|
72%
|
|
(3.3)
|
(12.0)
|
72%
|
| |
|
|
|
|
|
|
|
|
|
|
|
Operating loss
|
(3.3)
|
(11.8)
|
72%
|
|
(12.0)
|
72%
|
|
|
|
|
|
Depreciation and amortisation
|
2.2
|
3.0
|
(27)%
|
|
2.9
|
(24)%
|
|
|
|
|
|
EBITDA
|
(1.1)
|
(8.8)
|
87%
|
|
(9.1)
|
88%
|
|
|
|
|
|
Add back adjusted items
|
1.3
|
16.8
|
(92)%
|
|
16.7
|
(92)%
|
|
|
|
|
|
Adjusted EBITDA
|
0.2
|
8.0
|
(97)%
|
|
7.6
|
(97)%
|
|
|
|
|
|
Add back inventory liquidation charges
|
6.5
|
0.7
|
829%
|
|
0.7
|
829%
|
|
|
|
|
|
Adjusted EBITDA excluding inventory liquidation and associated costs
|
6.7
|
8.7
|
(23)%
|
|
8.3
|
(19)%
|
|
|
|
|