Ethical e-tailer Adili said EBITDA would be below expectations after gross margins were hit by discounting needed in the tougher market.
Adili also said that EBITDA was affected by investment into its new website platform launched in November.
Sales have continued to grow up 56 per cent in the year to April 30 and are expected to be around £550,000.
In April Adili raised £350,000 to fund its short term working capital requirements and it is seeking funds needed by late July to continue the e-tailer’s development and move it towards breakeven and profitability.
Chairman Nick Samuel said: “I am pleased to report another year of considerable progress for Adili. Current trading remains buoyant and sales growth, despite the present economic conditions, is accelerating as internet shopping and the ethical market continues to gain popularity.”
Own label has been a big focus for Adili and it said that its first own label collection is already achieving above average sell through rates.
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