Shares in e-commerce firm Huddled Group PLC jumped 7% on Monday morning as the company reported a larger-than-anticipated boost from the acquisition of Discount Dragon.
Having bought the online retailer in October, Huddled said Discount Dragon’s performance had exceeded management’s expectations, with the bulk of the company’s earnings generated after the acquisition.
Revenue for the year to 31 December 2023 sat at £2.2 million, with £1.5 million of this coming since the takeover, Huddled reported.
Peak trading for its Let’s Explore virtual reality business aided the boost in earnings, Huddled added, leaving the company with net cash of £4.2 million at the end of the year.
Shares climbed 7.6% to 4.25p.