Made.com reveals UK arm makes first profit

Furniture company Made. com says its UK business delivered a profit for the first time last year, adding that its international operations were “tracking on the same trajectory”.

The private company stopped short of reporting regional figures, but said gross annual profit for the wider company reached £49.3 million in the year to 31 December. That compared with a profit of £31.2m a year earlier. However, Made.com revealed that it still suffered a loss in adjusted underlying earnings totalling £3.8m, although this was down from underlying losses of £6.2m in 2015.

Sales across the business surged 48 per cent for the period to £91m, thanks in part to a 38 per cent rise in UK revenue.

Philippe Chainieux, CEO of Made.com, said the performance showed “sales fast approaching £100m, demonstrating our scale and proving that the online business model works”.

Chainieux added that the UK’S “maiden profit” represented a “significant moment in the group’s evolution”.