China’s Temu more than doubles EU profits to nearly $120m despite having only eight staff

Online marketplace paid just $18m in corporation tax, leading campaigners to call for government action

The Chinese online marketplace Temu’s EU operations more than doubled pre-tax profits last year to just below $120m (£90m) despite employing just eight people, accounts show.

They rose 171% in the 12 months to December 2024 compared with the $44.1m the year before, as shoppers snapped up its low-cost goods, which are widely promoted on social media.