(Sharecast News) - Mattress retailer Eve Sleep said on Thursday that both group revenues and gross profits had grown in 2021 as the group "managed and mitigated" inflationary pressures and supply chain disruption throughout the year.
Eve Sleep said group revenues were up £1.4m year-on-year at £26.6m, while gross profits were £300,000 higher at £14.7m. On a two-year basis, group revenues were 11% higher and gross profits were up £2.0m.
On the other hand, gross profit margins contracted from 57.3% to 55.4%, while the firm's underlying EBITDA loss widened from £2.0m to £3.0m on higher marketing investment in France and its statutory pre-tax loss increased from £2.4m to £3.4m.
The AIM-listed firm delivered a third consecutive year of UK and Ireland revenue growth, increasing 22% on two-year comparatives.
Chief executive Cheryl Calverley said: "Delivering a third year of growth in revenues and marketing contribution in our core UK&I business, notwithstanding the many external challenges faced during the period, demonstrates clearly the sustainability of our recovery and the success of the rebuild strategy.
"We have managed and mitigated inflationary pressures and supply chain disruption throughout 2021, whilst the Q4 issue of covid related labour supply shortages primarily in our delivery proposition has now abated. There is no denying the challenges we will face in 2022 but the restructured business is in good shape, our offering greatly enhanced and our team as strong as ever."
As of 0905 GMT, Eve Sleep shares were up 2.44% at 2.10p.
