A listed London Stock Exchange company has warned that they expect global supply chain issues will continue into 2022.
Philippe Chainieux who is the chief executive of Made.Com who are a direct to consumer furniture design brand retailer said he like other furniture firms are seeing strong demand, but have problems with getting enough supplies.
Chainieux said, “Thanks to our agile business model and supplier relationships, we are well positioned to navigate the industry-wide global supply chain disruption, which is expected to continue into the first half of next year.”
He warned that supply issues will continue to result in increased shipping costs and times, which will place pressure on what products Made.com will have available.
Chainieux said, “I am very pleased with the progress made in the first half of the year, which is in line with the long-term goals set out at our IPO (initial public offering) in June.
“We have continued to see strong and sustained consumer demand for our exclusive, design-led products and have gained significant market share with growth in all eight of our markets.”
He added, “We have multiple levers to drive superior growth and will continue to strengthen our model through the ongoing implementation of our strategy: to invest in our unique customer proposition through further developing our curated, design-led range, enhancing customer experience, investing in our brand and expanding internationally.
“I am confident in the outlook for the full year and in Made’s long-term growth.”
Sales grew by 54% in the six months to the end of June, whilst pre-tax lass shrank by a third to £10.1, on revenue of £171m.