reports full-year loss of £31.4m and confirms CEO has reported full-year losses of £31.4 million due to supply chain disruption and confirmed that Nicola Thompson has been appointed as CEO.

The omnichannel furniture retailer’s full year annual results revealed that revenues had risen 50 per cent to £371.9 million in the 12 months to December 31 2021.

However, the company said that it saw a pre-tax loss of £31.4 million in the period, including a one-off cost of £5.3 million related to the company’s Initial Public Offering (IPO).

The pre-tax loss figure marks a further decline from a loss of 14.6 per cent recorded for the same period last year.

In a statement accompanying the results, the company said it was “adversely affected by global freight inflation and supply chain disruption.”

The company also noted that there was £56 million of deferred revenue at the end of its financial year as a result of extended lead times related to ongoing supply chain disruption.

The company also confirmed that Nicola Thompson, its current interim chief executive, who previously served as chief operating officer at the company, has been appointed permanent chief executive with immediate effect.

Thompson stepped up into the interim CEO role last month when Philippe Chainieux resigned due to family reasons.

Commenting on Thompson’s appointment, Susanne Given, chair of MADE, said: “The Board is delighted to confirm Nicola’s appointment as CEO. She is an impressive and compassionate leader and the right person to lead the business into its next phase of growth.”

Nicola Thompson, CEO of MADE, said: “We are delighted to report another period of strong financial performance and solid operational progress, with revenue growing by 50 per cent year on year and continued delivery against our key strategic pillars as set out at our IPO.”

She added:“MADE has an unrivalled understanding of its digital native customer base and this has enabled us to upgrade our proposition and significantly increase market share. We have a clear strategy, talented team and multiple levers to drive growth in the years ahead.”

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