We are pleased to report that your company has traded profitably throughout 2018 with our sales having grown significantly as we progress through the year. Our largely fixed overhead business model ensures that all strategic developments and associated sales growth result in a direct increase to trading profitability.
In addition to our continued growth in the UK market, we have explored, and are in the early stages of developing, trading opportunities in the USA. All brands who work with Hochanda are made available to purchase not only in the UK, but by our rapidly growing customer base throughout the USA (and pretty much anywhere else that our website can be accessed). The combination of bringing new and exciting brands to the USA, coupled with competitive delivery times, has not only brought promising early results but a fantastic opportunity for the future development of Hochanda.
Whilst we are cautious about making long term forecasts for the business, we are now confident that, barring any major unforeseen events, Hochanda should henceforth continue to trade profitably and therefore the date that your company should be in a position to pay dividends is getting closer.
2018 has seen the launch of many great developments at Hochanda. In January, we introduced Craft Price Drop as a permanent fixture in our daily schedule at 7am and 7pm every day. This new show format has been very popular with Hochanda viewers with hundreds of craft bargains being up for grabs each month.
We introduced FlexiOrder in May, providing customers the facility to spread the cost of their orders over 2-3 interest-free, flexible instalments. This has been very well received and has made crafting at all levels affordable to all.
In June, we released the Hochanda Go iPhone app which allows our viewers to conveniently watch us at any time and wherever they may be. With crystal clear HD streaming, our full rewind library allows viewers to catch up on previous shows with a streamlined shopping experience. It has come as no surprise just how popular the app is! Hochanda Go will very soon be made available on Android devices along with a tablet format for iPad and Android.
We continue to expand our range of exciting products and have added almost 100 new suppliers and crafting brands to our family this year. We continuously strive to bring new and innovative crafting entertainment to our viewers’ screens.
We are blessed to have such passionate and dedicated staff in all of Hochanda’s departments. It is a credit to each and every employee that our growth and success story has been so positive and - more importantly - continues in such a positive way. Always looking for the next popular craft and exciting new suppliers, our buying team continues to work closely with our supply base to bring a variety of brands and crafts to air. Our production teams work around the clock to ensure Hochanda perfectly showcases these products and provides both stimulating and engaging promotion and our IT team continues to deliver new and innovative software improvements to ensure a seamless customer shopping experience. Our customer service team consistently strives to give great service and put our customers first. We are proud of our independent Feefo review score of 4.7/5.0 from in excess of 32,000 reviews.
In July 2018, Joe Padbury, Matthew Wright, Craig Norris and Anthony Brooks were appointed as full executive Board members of Hochanda. They have each been with the company since its inception in 2015 and have been instrumental in its strategic development and growth. We are pleased to welcome them to the Board and look forward to them driving the future growth and development objectives of the Hochanda. The existing board members - Paul Wright (Chairman), Val Kaye (Deputy Chairman) and Adam Hart (Non-Exec) remain on the Board and continue to share their wealth of industry expertise, oversee strategic direction and support of the management team.
Our report and accounts, made up to 31 December 2017, have now been filed and made available for viewing at Companies House. A copy of this document, and other regulatory filings, can be downloaded by visiting Companies House. It is stated in both the accounts and this update, that the business has been trading profitably since the 4th quarter of 2017 and, as a result, the historic accounts are not a reflection of the profitable growth position which we enjoy today.