UK's Huddled H1 gross profit more than doubles

By Reuters News


Overview

  • UK live commerce firm's H1 revenue fell yr/yr as business pivoted from traditional e-commerce

  • Gross profit more than doubled, and adjusted EBITDA loss narrowed from prior year

  • Company reports rapid growth in live commerce revenue and strong product margins post-period


Outlook

  • Company plans to launch on eBay Live and expand TikTok and Whatnot channels in October

  • Peeko Live platform set to launch on peeko.co.uk in October

  • Nutricircle to add Live Commerce with an educational focus before end of Q4


Result Drivers

  • BUSINESS PIVOT - Co said shift to live commerce drove focus on fewer, more profitable orders, impacting revenue and boosting gross profit

  • LIVE COMMERCE MOMENTUM - Co reported rapid growth in live commerce revenue, strong product margins, and rising customer retention post-period

  • PROPRIETARY SOFTWARE - Co said new 'Powered by Peeko' software enabled integration with live commerce platforms and next-day delivery, supporting growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

GBP 7.14 mln

H1 Adjusted EBITDA

-GBP 1.24 mln


Reuters Recommended Reads

  • Sept 25 - UK's Tandem H1 revenue rises on strength in Bikes, Home & Garden categories

  • Sept 25 - UK's Bango 1H revenue rises, helped by subscription platform growth

  • Sept 25 - UK's Safestay H1 revenue falls on weaker occupancy, challenging market


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.