Flash Sales site SecretSales.com has narrowed its operating losses by 40% from £3.7m to £2.2m for the year to December 31, 2014, as sales increased by 39% to £25.2m.
As expected, the business, which was founded by brothers Nish and Sach Kukadia in 2007, turned its first profit in the fourth quarter of 2014. It declined to provide figures.
During the year, SecretSales added flash Sales for electronics to its existing offer of menswear, womenswear, footwear, kidswear, lingerie and accessories.
Sales from mobile devices generated 60% of revenue, up from 50% in 2013.
In the first four months of 2015, SecretSales has seen a 37% increase in turnover and signed up 124 new brands to the site.
Nish Kukadia, who is chief executive, said: “The momentum that was evident throughout 2014 has continued into 2015 with strong sales growth and improved financial metrics. We continue to invest aggressively in technology to further extend our number one position in the UK market and to deliver an enhanced consumer offering, underpinned by a highly scalable, best-in-class platform and supporting infrastructure.
“We are confident in the future and in delivering on our strategic objectives.”