Samarkand Group PLC (LON:SMK) said it delivered a strong performance in the year to the end of March.
The cross-border e-commerce technology solution provider said revenue rose to £20.6mln from £6.8mln the year before, although the figure was boosted by exceptional revenues of £5.8mln.
Underlying earnings (EBITDA) turned positive at £1.1mln versus a loss the previous year of £0.8mln.
Cash at the end of March stood at £14.6mln.
Since March, the company has acquired Zita West and Babawest, both of which have been integrated well. Both are set to be launched into the cross-border e-commerce market in China before the end of this year.
READ Samarkand snaps up mother and baby nutritional product brands Zita West Products and Babawest
"2021 was a watershed year for the company and I'm delighted with the financial performance and operational progress made. The IPO and additional proceeds from our partner, SF Holdings, have given us the firepower to execute our ambitious growth plans and we have begun to invest accordingly,” said David Hampstead, the chief executive officer of Samarkand.
“Chinese e-commerce continues to go from strength to strength and our solutions provide the optimal route into the world's largest e-commerce market. We are working with an increasing number of brands, including our growing owned brand portfolio, and remain very confident for the future," he added.
⚡️ The Samarkand branch of the UzTest Center carried out practical work on setting reasonable prices for producers at the enterprises of the region. In particular, the certification management specialists need to adapt the products manufactured by Golden Biscuit Food Group. pic.twitter.com/JQQl8embgD
— UzTEST press service (@UzTest_duk) May 31, 2021