Studio Retail has reported that its first half group revenue has edged up 3.2% to £239.6 million year-on-year and by 32% on a two year basis.
In the 26 weeks to 24 September, the company’s adjusted pre-tax profit climbed by 36% to £23.7 million despite challenges in product shipping driving up costs. Meanwhile, pre-tax profit was up 67% to £26.5 million.
During the period, product revenue was up 0.3% on prior year and up 38% on 2019. Meanwhile, financial services revenue rose by £7 million or 11.3% on the prior year.
The company says it now has over 1.2 million active Studio App users with 25% of purchases now coming through the channel. It is currently trialling an in-app live video stream shopping channel where customers can buy directly from live video as part of plans to enhance their digital experience.