Huddled Group plc, a circular economy e-commerce business, released its audited full-year results for the year ended December 31, 2024. The company reported significant revenue growth, with Group revenue increasing by over 490% to £14.2 million. This growth was driven by acquisitions and the performance of its three core businesses: Discount Dragon, Nutricircle, and Boop Beauty. The company also highlighted its impact, diverting food waste away from landfills and helping households save money. The CEO, Martin Higginson, expressed confidence in the companys position and its goal to become the UKs most trusted surplus goods e-commerce retail group. The financial review provided details on revenue, gross profit, adjusted EBITDA, and loss before tax. The cash flow statement showed net cash outflows, and the balance sheet highlighted changes in inventories, trade receivables, and payables. Overall, the companys net assets increased, and the Directors expect the company to have adequate resources to continue its operations.
| Year | Revenue (£) | Gross Profit/Loss (£) | Adjusted EBITDA (£) | Loss Before Tax (£) | Net Debt (£) |
|---|---|---|---|---|---|
| 2024 | 14,222,000 | 118,000 | -3,082,000 | -4,049,000 | 1,576,000 |
| 2023 | 2,423,000 | -45,000 | -1,333,000 | -2,279,000 | 4,240,000 |