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Adili posts maiden pre-tax loss

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    Date: Friday 03 Oct 2008

    LONDON (ShareCast) - Online ethical fashion retailer Adili reported an annual pre-tax loss as it names Nick Samuel non-executive chairman with immediate effect.

    For the year ended 30 April 2008, its first year as a quoted company, the group posted a loss of £1.59m while sales came in at £354,000.

    For the period from 13 February 2006 to 30 April 2007, it reported a pre-tax loss of £455,648 on revenue of £65,519.

    "Since the year end, trading continues to demonstrate encouraging sales growth," the group said.

    Adili said revenues for the first four months of the current financial year have increased more than 100% from the same period last year. This is expected to accelerate in the build up to Christmas.

    "While traditional retailers on the high street are facing challenging market conditions, both internet retailing and ethical fashion continue to expand significantly. This provides a substantial market opportunity for Adili," it added.

    Samuel succeeds Alan Howarth, who will remain on the board as senior non-executive director.


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