John Lewis of Hungerford expecting record-breaking results after digital sales push
Home furniture specialist John Lewis of Hungerford has recorded its best ever results following significant investment online.
The Oxfordshire-headquartered firm reported first half sales to 31 December 2021 of £4.6 million compared to £3.3m in 2020.
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The current full year total of despatched sales and confirmed forward orders standing at £8.5 million leading company directors to expect a turnover in excess of £10m which would be the highest in its history.
The company posted losses of £81k for the first half of the year which was down on last year's loss for the same period which came in at £213k.
The Wantage-based company also has cash reserves of £824k compared to £504 last year.
A statement to the London Stock Exchange from CEO Kiran Noonan read:
"The Company has taken steps to put in place important building blocks over the last two years, including significant investment in our Digital Strategy, the Novuna (formerly known as Hitachi) Finance - customer financing facility, together with the addition of key heads, to improve productivity around the business.
"These initiatives have delivered a structural change in our model, with now sustained levels of consumer interest, as a result of our improved visibility online, which has reduced the dependency on local footfall in our territories. The investment in heads required to support this increase in new business span across front-end sales support, additional production heads and enhanced installation management, to ensure the customer experience remains a priority as we grow and scale the business."
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