Highlights1

Operating highlights — Driving growth

Customers

  • Product range now exceeding 28,000 SKUs
  • Launch of new price initiatives, including Low Price Promise
  • Stable basket size
  • Enhanced usability and service, including growing mobile significantly with 28% of checkouts across apps and mobile checkouts across website growing rapidly
  • Service on-time and in-full delivery metrics 92.7% and 98.3%
  • Active customer base2 grown to 355,000

Efficiency

  • CFC efficiency improved to 120 UPH
  • Service delivery efficiency improved to 151 DPV

Capacity

  • CFC1 capacity now running consistently at over 140,000 orders per week
  • CFC2 open with first orders delivered in February 2013
  • Dedicated non-food warehouse operations commenced January 2013

Financial highlights — Delivering profitability

  • Gross sales up 11.4% to £716.2 million
  • EBITDA3 up 20.4% to £33.5 million
  • Operating profit of £2.6 million
  • Adjusted profit before tax3 of £1.3 million
  • Refinancing of credit facility to July 2015 completed
  • Balance sheet strengthened with equity capital raising in November 2012
  1. References to performance in these highlights pages are stated on a 52 week basis to 25 November 2012, unless otherwise specified.
  2. For the 53 weeks ended 2 December 2012.
  3. Adjusted to exclude exceptional items.

Active customers2

355,000

Average basket size

£112.13

CFC efficiency

120 UPH

Service delivery

151 DPV

Gross sales

£716m

Ebitda

EBITDA

£33.5m