Samarkand Group plc, the cross-border eCommerce technology solution provider, is pleased to provide an update on trading for the year ended 31 March 2021 (FY21).
The Group has delivered a strong performance in the year. Revenue (including exceptional revenues of £5.8m) increased to £20.6m (FY20: £6.8m) and EBITDA profit increased to £1.1m* (FY20: loss of £0.8m), which is moderately ahead of expectations. This performance has largely been driven by the continued success of the Group’s Nomad platform as well as high levels of social selling in China. Following its successful admission onto the Aquis Stock Exchange on 22 March, the Company had a strong cash position of £14.6 million as at 31 March 2021.
Since the financial year end, the Company has continued to execute its stated strategy and investment has begun in line with the use of proceeds outlined at the time of flotation. In May 2021, the Group completed the acquisition of Zita West Limited, a UK fertility supplement brand, and also acquired 51% of Babawest Ltd, which specialises in nutritional products and probiotics focused on the mother and baby sector. Both brands have been integrated well and are aiming to be launched into the cross-border eCommerce market in China before the end of 2021.
In June the Company began its international expansion through the opening of a Tokyo, Japan office. Japan is the 4th largest eCommerce market in the world and the Japan-to-China cross border market represents an attractive opportunity for the Company.
Further progress was made with the investment of over £3m from United Win Asia, a subsidiary of S.F. Holding Co., Ltd (“S.F. Holdings”) in May. As well as providing additional funds to invest, the move is strategically significant. S.F Holdings, is a leading express delivery company in China and the Company has been working with S.F. Holdings as logistics partner for a number of years.
The Company intends to release its Full Year Results for the 31 March 2021 in late July 2021.
* after deducting £0.5m in listing fees and share based payment charge
David Hampstead, Chief Executive Officer of Samarkand Group, commented:
“2021 was a watershed year for the Company and I’m delighted with the financial performance and operational progress made. The IPO and additional proceeds from our partner, S.F. Holdings, have given us the firepower to execute our ambitious growth plans and we have begun to invest accordingly. Chinese eCommerce continues to go from strength to strength and our solutions provide the optimal route into the world’s largest eCommerce market. We are working with an increasing number of brands, including our growing owned brand portfolio, and remain very confident for the future.”
For more information, please contact:
Samarkand Group plc
|Via Alma PR|
|VSA Capital – AQSE Corporate Adviser and Broker|
Andrew Raca, James Deathe, Pascal Wiese (Corporate Finance)
Andrew Monk (Corporate Broking)
+44(0)20 3005 5000
+44(0)20 3405 0213
Notes to Editors
Samarkand is a cross-border eCommerce technology and retail group focusing on connecting Western Brands with China, the world’s largest eCommerce market. The Group has developed a proprietary software platform, the Nomad platform, which is integrated across all necessary touch-points required for eCommerce in China including eCommerce platforms, payments, logistics, social media and customs. The Nomad platform is the foundation on which the Group’s Nomad technology and service solutions are built. The core products include Nomad Checkout, Nomad Storefront, Nomad Commerce, Nomad Distribution and Nomad Analytics.
The Company’s current customer base comprises leading European brands such as 111SKIN, Shay & Blue, Omorovicza, ICONIC London, Philip Kingsley, Temple Spa and Planet Organic. Samarkand has also successfully grown its own brand, Probio7, acquired in December 2017 and recently announced the acquisition of Zita West Products and Babawest.
Founded in 2016, Samarkand is headquartered in London, UK with an office in Shanghai employing over 90 staff.
For further information please visit https://www.samarkand.global/
Unit 13 & 14
Nelson Trading Estate
The Path, Merton
London SW19 3BL
Tel: +44 (0) 2037403933
4F Ascendas Plaza
333 Tian Yao Qiao Road
Samarkand Global Japan KK,
IBSC, Ark Mori Bldg. 7F 12-32, Akasaka 1-Chome, Minato-ku,
© Copyright – Samarkand Global Limited registered in England and Wales.
Company Registration Number 10174458