The Very Group delivers record margin
The Very Group, the operator of Very and Littlewoods, has seen its full year adjusted EBITDA increase by 15.9% to £307.1 million.
In the year to 28 June, the group delivered an EBITDA margin of 14.7%, the highest in its history. This was partly driven by changes to the retail sales mix, including an increase in higher margin home sales.
Very UK revenue was “broadly flat” with a slight decline of 0.2% to £1.83 billion while group revenue fell 1.8% to £2.09 billion due to a focus on profitability over volume.
Robbie Feather, chief executive at The Very Group, said: “FY25 was a year of real progress for Very. As a multicategory digital retailer and flexible payments provider, we have a unique business model which continues to resonate with the families we serve.
Subscribe to TRB“Our customers are at the heart of everything we do and this focus, combined with the passion of our colleagues, has helped us achieve our best-ever customer satisfaction score.
“Despite a challenging economic backdrop, we’re delighted with our performance, driven by our unrelenting focus on improving all aspects of our offer and customer experience.
“We ensured we had the right products at the right time, at the right prices, and with the right payment options. Together with disciplined cost control we were able to deliver significant earnings growth across the year.”
The group continued to utilise technology and data to enhance the customer experience and is in the final stages of implementing a multi-year technology investment plan.
It also launched a Beauty Studio and Beauty Inspiration Hub to allow customers to shop by trend, ingredient, or brand while accessing blog-style content.
Feather added: “We also made strong progress against our strategic priorities, completing key milestones in our technology transformation and upgrades to our apps and websites, relaunching Very’s retail media proposition, and launching Hello Studio, our in-house creative agency.
“We look back at FY25 with pride, and I am confident that we have the right team, strategy and foundations in place to drive our future growth.”
