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The Hut Group posts record full year revenue

The Hut Group has posted record full year revenue with growth of 38.1% at constant currency to £2.2 billion. In the year to 31 December 2021,… View Article

HEALTH & BEAUTY

The Hut Group posts record full year revenue

The Hut Group has posted record full year revenue with growth of 38.1% at constant currency to £2.2 billion.

In the year to 31 December 2021, the health and beauty retailer’s adjusted EBITDA performance was also strong at £161.3 million compared to £150.8 million in the previous year.

THG said returning customers generated 78% of D2C group revenue across the year. Following its acquisition of the Dermstore skincare brand, US revenues now account for over 19% of group sales.

Matthew Moulding, chief executive  of THG, said: “In our first full year as a public company, 2021 saw us scale revenue and expand our business model, well ahead of targets set at IPO. 

 “Alongside significant revenue growth, FY 2021 saw us acquire and successfully integrate a number of complementary businesses, deepening our vertical integration across both Beauty and Nutrition and expanding our reach to consumers across the globe.

 “The operational resilience and performance of our Ingenuity infrastructure, especially during our peak trading period was a highlight, as was the opening of our automated warehouse at our ICON technology campus, delivering material improvements and cost savings across our global storage and delivery infrastructure. “

Last month, THG announced that former ITV chief executive Charles Allen would become its new chair.

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