The Hut Group reports surge in full year sales and profit
Health and beauty retailer The Hut Group has reported a 24% uplift in its annual group sales to £1.14 billion.
In the year to 31 December, its gross profit increased by 22% to £511 million while EBITDA climbed by 22% to £111 million.
International sales were particularly strong and now account for 66% of revenue. The company also saw continued growth in own brand revenues which made up 50% of group sales.
During the year, The Hut Group acquired luxury natural haircare brand Christophe Robin and continued to invest in its THG Ingenuity end-to-end technology platform which powers both its own brands and a range of major global consumer groups. It also expanded its international fulfilment centres and acquired a new £60 million facility in Poland.
Matthew Moulding, founder and chief executive of The Hut Group, said: “It has been a year of significant progress across the group. We have continued to make huge investments to develop our infrastructure, technology, brands and people, which continue to deliver substantial growth.
“We have significantly expanded our global fulfilment capability, broadening our reach to customers in 169 countries. THG has also made important investments in our THG Experience portfolio, expanding the offering of our influencer platform, bringing over 5,000 influencers currently to both our own and our partner brands.”
The Hut Group also created 1,500 jobs during 2019. While most of the new jobs were based in the North West, the increase took the company’s total worldwide workforce to over 7,000.
Moulding added: “Our people are the key to our success, and we have continued to invest in our talented teams. The development of the THQ business campus continues at pace and demonstrates our commitment to investing in our people. THG has an excellent platform for growth with an outstanding portfolio of prestigious brands, powered by THG Ingenuity.”
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