Very Group returns to profit despite softer sales

The Very Group has returned to profitability thanks to “continued diligent cost control”, despite posting softer sales.
The online department store swung to a pre-tax profit of £6.1m in the 26 weeks to 28 December, up from a loss of £2m the year before.
The group said its focus on cost control helped to deliver a 17.4% increase in adjusted EBITDA to £150m.
Sales slipped 4.5% to £1.17bn during the half, with revenue for its Very UK brand down 3% to £1.02b