Huddled Group plc AIM:HUD
- Incorporated
- United Kingdom
- Employees
- 94
- Reports in
- GBP
- Companies House
- 10964782
Read straight from the annual reports
0.8p at close on 8 Oct 2026 · 9 reported years, 2017–2025
| Line | FY201712/17 | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
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| Adjusted EPS | — | — | — | — | ||||||
| Dividend per share | — | — | — | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
9 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
Huddled Group sells discounted surplus goods online through three websites: Discount Dragon, Nutricircle and Boop Beauty. Revenue rose to £18.6m from £12.9m, but the loss after tax grew to £4.2m from £3.9m. Most of the growth came from Nutricircle, where orders more than trebled, and from Boop Beauty, which still sold its products at a loss. Discount Dragon's sales stayed flat because it cut back on one-off promotional orders. The company also moved its deliveries to an outside firm, THG Fulfil. One-off costs of £755k, mostly for moving warehouses, added to the loss. Cash fell to £243k at the year end from £1.6m, even after shareholders put in £1.5m, and borrowings rose to £711k. There is no dividend. The chairman called 2025 "the year we fixed the foundations" and said 2026 would build on them. The auditor approved the accounts without raising doubts about the company's future. However, the report says the year's losses and cash outflow were bigger than the cash the company held. It raised more money from shares and loans after the year end and expects to need more.
Order volume growth at Nutricircle (orders more than trebled from 47,754 to 155,555) and Discount Dragon (300,000 orders processed in the year)
Nutricircle revenue grew from £1.6m to £5.0m (+200%+); Discount Dragon revenue held at £10.7m with intentional reduction in one-off promotional orders
page 3Migration of fulfilment to THG Fulfil enabling next-day delivery up to 11pm and reduced delivery charge (£3.99)
Chairman describes this as 'the single biggest decision of 2025', restructuring product range to raise average item values
page 3Shift away from one-off promotional/discounted orders toward repeat, higher-margin orders at Discount Dragon
Gross profit swung from a £151k loss to £396k profit on broadly flat revenue
page 5THG Fulfil migration cutting average picks per order from ~12 to ~6 and eliminating loss-making low-value lines
Chairman's statement describes restructured product range around fulfilment partner's model
page 32025 was the year we fixed the foundations. 2026 is the year we build on them.
page 36 Feb 2026: proposed share subscription at 1.75p/share alongside a debt facility of up to £600,000 (Martin Higginson committed £300,000, two other private individuals £300,000 in aggregate; 15% p.a. interest, 2-year term, secured by debenture)
page 21No dividends paid in 2025 (2024: £Nil); the Board is not recommending payment of a dividend for the year ended 31 December 2025
page 20Going concern basis adopted, but the Group is loss-making with an operating loss of £3,992,000 and operating cash outflow of £2,986,000 in the year, both exceeding its cash balance at the reporting date; post year-end equity and debt financing was undertaken and further financing is expected to be required. Auditor HaysMac LLP (signed by Gareth Ogden) issued an unqualified ('true and fair') opinion with no material uncertainty identified regarding going concern. Key audit matters: revenue recognition (cut-off risk), valuation of goodwill/intangibles relating to the Discount Dragon CGU, and valuation of investment in subsidiaries/intercompany receivables (parent company only)
page 25- Failure to implement the Group's strategyp.7
- Competition from better-resourced/branded competitors in highly competitive discount marketsp.7
- Supply chain risk - reliance on consistent sourcing of surplus stock at a discountp.8
- Reliance on third-party logistics provider (THG Ingenuity) for warehousing/fulfilmentp.8
Read from C000636-AR-2025-ch.
8 annual reports read, FY2018 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (8)
FY2026Next report expected 10 May 2027