Buy It Direct increases sales and profit
Online retail group Buy It Direct increased its profits by 44% to £2.6 million in 2016.
The Yorkshire based company which counts AppliancesDirect.co.uk within its portfolio of websites, increased its revenue by £16.6 million to £120.7 million in the period.
Buy It Direct managing director Nick Glynne said: “In 2016, we made significant investments in key staff and systems to help drive our customer and product offering.
“This year is going to be even better – we are already on track to smash last year’s profits. And once we have our new warehouse online in our next financial year, we expect another burst of growth.”
The company, which also manages Debenham’s white label electrical site DebenhamsPlus.com, said it has not experienced any fallout followiing the EU referendum but is nevertheless cautious about the year ahead.
Glynne added: “Despite market uncertainties, especially following the drop in Sterling, we are fully committed to our five year strategy and will continue to make significant investment to help achieve our goal in becoming one of the UK’s most profitable online retailers of electricals and flat-pack furniture.
“We don’t want to be just another low profit etailer so we are focusing on key points of difference to our competitors, all of whom appear to be wedded to an inflexible revenue trading model. It is very satisfying to see all our hard work starting to pay off.”
The group operates a range of websites specialising in laptops, TVs, kitchen appliances and flat pack furniture. These include www.appliancesdirect.co.uk, www.laptopsdirect.co.uk, www.dronesdirect.co.uk and www.furniture123.co.uk.
