Despite the challenges in the eCommerce world, we're thrilled to announce that we've smashed our revenue targets for the financial year ending March 31, 2024.
Our unaudited results reveal that we've hit annual revenues of £17.4 million, marking a solid 23% increase compared to the previous year. We've been working hard on increasing productivity and efficiency through smart tech investments - and it's paying off. Our EBITDA has doubled year on year.
One of our proudest achievements has been our support for high-growth omnichannel brands. We saw a whopping 38% surge in transaction volumes, shipping over 6.6 million items through our platform last year. Health and wellbeing stole the show, with a staggering 150% revenue growth, making it our top market, even overtaking fashion.
Our global network of centres helped us score big in export sales to the EU and USA, accounting for over 20% of our group revenue. That's some serious international expansion!
These results are even more impressive considering the broader industry trends - a decline of 4% in online sales and virtually flat order volumes over the past year.
Lee Thompson, our CEO, couldn't be prouder. He credits our success to our team's hard work and our unique blend of technology and strategy. According to Lee:
"The financial results are testament to the strength of fulfilmentcrowd’s strategy and the talented team delivering it. We’re demonstrating that our technology and unique operating model is supporting customers’ cross-border growth plans and creating shareholder value."
To keep the momentum going, we've expanded our team with key hires in business development, marketing, and finance. Plus, we've opened two new partner centres - one in Lutterworth (UK) and another in Edison (New Jersey, USA) - to better support our customers' growth ambitions.
Looking ahead, Lee says: "Building on this result, we will continue to invest in our people and platform to deliver best-in-class solutions for high-growth omnichannel brands."
One of our standout features is our innovative approach to logistics, utilising existing warehousing capacity to offer flexible, scalable, and eco-friendly solutions. With the support of BGF - one of the UK and Ireland's leading growth capital investors - we're charging into the next financial year with a focus on agility, innovation, and sustainability. We're keeping an eye on new frontiers, including Australia and the Middle East, to expand our global footprint.
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