Tossed sees turnover fall 6.8% to £9.3 million in FY18
The company expects the figure to increase in the next financial year after acquiring Vital Ingredient last March.
Tossed reported their financial results for FY2018 with a £9.3 million turnover, a 6.8% decrease from £10.0 million last 2017.
Gross profit also slowed down from £6.9 million in FY17 to £6.5 million. Operating loss stands at £1.4 million which grew from £82,634.
“Due to market uncertainty, which has been well-reported in the national and industry press, there was considerable downward pressure on sales,” the company said in a filing.
“Like-for-like sales fell into decline from the end of the summer of 2017 and remained negative until the end of the financial year,” they added.
They expect turnover figure to increase in the next financial year, driven by the sales of Vital Ingredient stores which they acquired last March 2018.
(Photo credit: Tossed Facebook)
