Very and Littlewoods parent Very Group has posted a pre-tax profit of just £4.6m for the year to July 1st, 2023 as compared with the £63.9m generated for the previous year. Group revenue totalled £2.15bn with Very Finance achieving 6.1 per cent growth to £422.1m.
Group CEO Lionel Desclee commented: “Despite challenging economic conditions, our adaptable business model has driven market-beating top line growth, improved cash flow year on year, and our best ever customer satisfaction score.
“it’s down to the investments we made in pricing and our digital customer experience, our cost discipline, and the commitment of our people in serving families in the UK and Ireland.
“In the year ahead, we will continue to deliver a combination of investment-led growth, with a clear focus on improving our digital customer experience, and dilgient cost management. While the market will remain challenging, we’re confident our proven and resilient business model, which combines multi-category online retail with flexible ways to pay will continue to deliver for our customers.”
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