Dispensa Group PLC (LSE:DISP), the international luxury food brand specialist, said it is working through the legacy problems from the Amazon website and is hoping for an uptick in the run-up to Christmas.
Problems with Amazon and also the seasonally weak summer period meant revenues dropped to £1.74 million from £3.48 million in the six months to end August 2023 compared to the previous six months.
The legacy Amazon businesses experienced persistent cost increases and operational challenges, it said.
Even so, group losses dropped to £1.19 million from £1.6 million following the closure of the UK warehouse and the moving of all logistics to Italy.
Niccolò Caderni, chairman, said: “While revenue has fallen compared to the first six months of the year, this is mainly, as expected, due to the seasonality of the business.
“The arriving Christmas trading period has generally significantly higher revenues than the same summer trading period for our brands.
“Our revenue is however also lower following difficulties with the Amazon platform and Ecomoist brand which has under-performed and which is being addressed.”
Caderni added organic growth through brand development and distribution of products through store openings continues.
The company is also considering minority investments in brands and related businesses, though to exploit these opportunities would require access to further capital.
Dispensa, which used to be called Zamaz, is changing its year end from August to December.