[ad_1]
Online market place Fruugo created jobs during 2022 as it returned to the black, it has been revealed.
Newly-filed documents with Companies House show the Cumbria-based company achieved a pre-tax profit of £6.1m for the year, up from a loss of £211,792 in the prior 12 months.
The accounts also reveal that Fruugo increased its headcount from 84 to 132.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
The figures come after the business announced in January that its revenue rose by 110% to £65m in the year.
At the time, Fruugo did not reveal if it had made a pre-tax profit or loss.
Fruugo previously announced plans to float on the London Stock Exchange’s secondary AIM market in October 2021.
However, the group stepped back from the move but signalled last year that it still intends to go public in the future.
Speaking in January, executive chairman Dominic Allonby said: “We are delighted to report another year of exceptional growth. Due to substantial and growing demand for Fruugo’s multi-award-winning services, coupled with our high-quality execution, we have more than doubled the size of our business in just one year.
“Fruugo’s mission is simple: to enable retailers anywhere to sell to shoppers everywhere, enabling retailers to access international demand for their products that they wouldn’t otherwise be able to find.
“Our proprietary technology and data science expertise, in combination with the huge range of product categories available through our platform, means that Fruugo is able to continually tap into worldwide consumer demand for sought after products and categories.
“The benefits of our very diverse, cross-border marketplace model have been particularly profound in recent times and are reflected in our outstanding growth rates.
“While many traditional and e-commerce retailers and brand owners have grappled with external supply chain headwinds and stock availability, Fruugo has been able to deliver record revenues, by enabling the retailers using our ‘no-sale no-fee’ platform to find new shoppers all over the world.
“Fruugo already powers the global trading of thousands of ‘direct to consumer’ businesses and has the capacity to serve many, many more.
“As we enter 2023, we remain focused on further enhancing our platform, including developing the tools retailers use to join Fruugo, and continuing to develop the user experience on our websites.”
READ MORE:
[ad_2]
Source link