Shares in Huddled Group PLC (AIM:HUD) fell 14% following the publication of its interim results, despite saying that it expects its operating businesses to break even this month.
The circular economy company, owner of Discount Dragon ("rescues" groceries and alcohol from being sent to landfill and sells them on at discounts), Nutricircle (same but wellness and sports nutrition goods) and Boop (same but beauty and cosmetics goods), grew revenues 81% to £9.48 million in the first six months of 2025 but saw losses from continuing operations grow to £1.8 million from £1.5 million.
The company highlighted strong growth across all brands, with Nutricircle revenue up 621% and orders rising 768% year-on-year; Discount Dragon revenue rose 10%, with a 14% increase in orders; Boop Beauty contributed £1.58 million in revenue after its relaunch in September 2024.
Huddled expects to achieve its first net operating profit before head office costs in September 2025, with both Discount Dragon and Nutricircle making divisional operating profits in August.
Third-quarter revenue is expected to reach £4.9 million, a 43% year-on-year increase.
Huddled noted that losses in the second half of the year are expected to narrow.
The company raised £1.5 million from institutional investors during the period and announced a new partnership with THG Ingenuity to improve fulfilment capabilities. The transition is expected to complete before Black Friday.
Executive chairman Martin Higginson said: "I'm delighted to report that the growth achieved during the period and since, alongside the hard work the team have put in, has positioned the group to reach a major milestone — based on current trajectory, we expect the group to be operationally profitable before head office costs in September 2025."