Very Group profits jump 69%

The Very Group has reported pre-tax profits of £81.7 million in its full results for the year, up 68.8 per cent on 2020.

During the same period the retailer saw overall retail sales up 24.9 per cent to £1.5 billion, while revenue grew 13 per cent to £2.3 billion.

Very saw the number of customers jump by 12.4 per cent to 3.82 million, boosting Group customers by 7.6 per cent to 4.82 million.

“I am pleased to report outstanding Group performance, including record revenue, continued profit growth and strong cashflow generation,” said Henry Birch, chief executive of The Very Group. “Whether working remotely, educating and entertaining the kids, updating their homes or simply wanting to look and feel good, we’ve given millions of families the items they need via an extensive range of flexible payment products.”

Birch added: “We’ve done this while moving our company forward operationally and strategically, from continuous digital customer experience improvements and developing our Very Pay platform to extending next day delivery cut off thanks to our highly automated fulfilment centre.”

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