Huddled Group has said it expects revenue to surpass £3.5m in Q3, while it will continue to invest in growth.
The North West group, with a focus on building a portfolio of e-commerce brands including Discount Dragon, Nutricircle and Boop Beauty, said its expected revenue would mark an increase of around 13% compared with the previous three months.
The company reported revenue of £5.27m for the first six months of the year compared with £62,000 pounds the year before, while pretax loss widened to 1.84 million pounds from 1.11 million pounds.
“The first half was all about investment and growth,” chief executive Martin Higginson said.
The acquisition of Nutricircle and Boop Beauty have been positive additions alongside Discount Dragon, the company said.
“Nutricircle has moved into operational profitability, Boop Beauty has relaunched successfully, and the losses at Discount Dragon have reduced significantly,” Higginson added.
The group said it remains focused on growing revenue in the fourth quarter and reaching profitability in the three core trading businesses.
