Liverpool-based online retail and financial services firm The Very Group, owner of Littlewoods, said its group revenue slipped 1.8% to £2.09 billion in the 52 weeks ended June 28, 2025, “reflecting a focus on profitability over volume in a challenging retail market.”

However, The Very Group said a “non-cash accounting adjustment has been made through exceptional items in relation to historic intercompany balances totalling £524.8m” but said “this has no impact on the group’s financial strength or liquidity.”

The Liverpool firm said its adjusted EBITDA increased 15.9% to £307.1 million.

The Very Group CEO Robbie Feather said: “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.

“We ensured we had the right products at the right time, at the right prices, and with the right payment options. Together with disciplined cost control we were able to deliver significant earnings growth across the year.

“We also made strong progress against our strategic priorities, completing key milestones in our technology transformation and upgrades to our apps and websites, relaunching Very’s retail media proposition, and launching HelloStudio, our in-house creative agency.

“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.”