Shares plunge 13.6%
Parsley Box ‘encouraged’ despite loss widening
Kevin Dorren with founder Adrienne MacAuley
Shares in Parsley Box, the Scottish direct to consumer ready meals firm, plummeted 13.6% after pre-tax losses widened to £5.4 million for the half year to the end of June, against a loss of £1.02m last year.
The company, which is backed by Scottish entrepreneur Chris van der Kuyl, said it was “encouraged” by progress as revenue grew 26% and active customers by 77%. There was a 38% growth in repeat orders and it is well-capitalised with net cash of £6.52m following its IPO in March.
However, prices are rising and, together with new products, are expected to deliver further growth. A recently launched new range of chilled meals has made an encouraging start with strong initial demand from existing customers adding chilled meals to their basket
Kevin Dorren, CEO of Parsley Box, commented: “This has been a highly rewarding period for the company, Parsley Box has achieved a great deal since our IPO in March 2021.
“The business is well capitalised and is using the opportunity to invest in new customers, product innovation and broadening our team as outlined in the run up to IPO.