Misco UK suffers fall in sales and wider losses in FY15
Parent Systemax aiming to restore UK arm to profitability, calling it the ‘cornerstone’ of its European business
Misco’s UK arm endured widening losses and falling sales in its last financial year, according to accounts filed recently on Companies House.
Revenues for the e-tailer’s full year ending 2 January 2016 fell by 23 per cent to £219.4m, while operating losses widened to £8.5m, compared with £5.6m a year earlier.
Average employee numbers also dropped from 466 to 416 as the final stages of moving back-office functions to a European shared services centre in Hungary were concluded.