Snacks etailer Graze.com has reported sales up 31% to £52.7m after successfully targeting the family market.
EBITDA was £12.2m in the year to February 28. Graze said it was unable to give a “meaningful comparative” figure for the previous year’s profits following changes made to the company structure in 2012.
Graze said it delivered strong growth in its core UK business, “assisted by increased penetration of the family market, using technology to improve segmentation and personalisation of the customer experience”.
The etailer launched its ‘goody box’ for children and breakfast boxes, “expanding the size of the UK market opportunity for Graze”.
Graze launched in the US in November and had 100,000 customers by February. The etailer said it benefited from its direct-to-consumer model, data analytics and experience it had built in the UK. Graze opened an office in New York in June and will invest $75m (£46m) in the US business over the next two years across infrastructure, technology and marketing
Graze has developed a responsive website so it works across all devices and has continued to invest in its manufacturing capacity and supply chain technology to support growth.
Graze chief executive Anthony Fletcher said: “I am delighted with the progress made across the group’s operations, which is reflected in another year of record financial results, with sales exceeding £50m for the first time. The core UK business continues to go from strength to strength and has been further boosted by the launch of new product ranges. Our launch in the US went smoothly and early trading has surpassed our expectations as Graze fast establishes itself as the leading online retailer of healthier snacks.
“The current financial year has started well and we continue to build out our US operations to realise the market opportunity. With our leading technology platform, deep customer insights and continuous product innovation we are well placed to make further profitable progress in the current financial year.”