Facts and figures....24 Jun 2019 11:14
oovs plc
("Koovs" or the "Company")
Trading Update
Positive momentum and growth resumed
Koovs plc (AIM: KOOV), the Western fashion experts for online Indian consumers, is pleased to provide an update on its trading performance for the 12 months to 31 March 2019.
Key Highlights
· Gross Order Value ("GOV") stood at £12.8m (FY 2018: £14.8m)
· H2 GOV increased to £8.0m (H2 2018: £6.9m)
· Trading margin increased to 18% (FY2018: 14%)
· Web traffic up 50% at 75.9m compared to 2018
· Social media base increased to 2.7m followers
Over the last 18 months, the Board has demonstrated its experience and expertise, taking the decisions necessary to protect the Koovs brand and to conserve resources during a period of turmoil caused by demonetisation and the implementation of Goods and Services Tax (GST); this included reducing marketing costs and stock levels. The business has now emerged from this period and is well positioned to deliver on its growth strategy. This is evidenced in the first three months of calendar 2019 with GOV increasing by 67% to £4.4m compared to the same period in 2018.