The Huddled Group, a U.K.-based company specializing in building a portfolio of e-commerce brands, formerly known as Let’s Explore Group, announced impressive revenue growth for the year. The company attributes this success to the outstanding performance of its recent acquisition, Discount Dragon.
According to the latest report released on Monday, the Huddled Group generated £2.2 million ($2.8 million) in revenue in 2023, representing a significant increase from the £796,000 reported in 2022. The majority of this growth occurred in the final quarter of the year, coinciding with the completion of the Discount Dragon acquisition and the peak trading period for the Let’s Explore division.
As of the end of the year, the company’s net cash position stood at £4.2 million. The post-acquisition revenue for Discount Dragon, which was finalized on October 17th, reached £1.5 million.
“The recent acquisition of Discount Dragon has been an exciting addition to the Group. The current consumer environment is delivering record trading in the discount sector, and we believe that our ability to offer great products,” commented Chief Executive Martin Higginson.