Very Group reports highest earnings margin in its history boosted by beauty

The Very Group has reported a record earnings margin for the year ending 28 June 2025, with adjusted EBITDA rising 15.9% to £307.1 million - the highest in its history.

The group delivered significant earnings growth driven by a strong performance across both its retail and financial services divisions. Adjusted EBITDA margin reached 14.7%, up from 12.5% last year.

Group revenue declined 1.8% to £2.09 billion, while Very UK revenue remained broadly stable, down 0.2% to £1.83 billion.

As for categories, Home was up by 9.9%, Beauty was up by 5.2%, and Toys was up by 4.3%. Fashion and Sports declined by 3.7%, while Electricals slipped 2%.

During the financial year, Very launched a new beauty hub to inspire customers and transform how they shop the category earlier this year. By allowing customers to shop by trend, ingredient, and brand, the retailer set out to bring a "new level of ease" to the shopping experience.

Gross margin improved to 36.6%, up one percentage point year-on-year, supported by category mix and a robust financial services performance. Operating costs fell by £36.4 million, reducing to 22.3% of revenue, the lowest level in the Group’s history.

CEO, Robbie Feather, said: "FY25 was a year of real progress for Very. As a multicategory digital retailer and flexible payments provider, we have a unique business model which continues to resonate with the families we serve.

"Despite a challenging economic backdrop, we’re delighted with our performance, driven by our unrelenting focus on improving all aspects of our offer and customer experience. Together with disciplined cost control, we were able to deliver significant earnings growth across the year."

Looking ahead, Feather added that the company enters the new financial year with confidence. "We look back at FY25 with pride, and I am confident that we have the right team, strategy and foundations in place to drive our future growth," he concluded.