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Health & Beauty

The Hut Group reports FY sales of £1.1bn

Health and beauty retailer The Hut Group (THG) has reported a 24% increase in group sales to £1.14bn in its full year results.

In the year ended 31 December, the company reported a 22% increase in gross profit to £511m compared with £417m in 2018.

International sales attributed to 66% of group sales and EBITDA increased 22% to £111m, compared with £91m in the same period in 2018.

During this period, The Hut Group announced the acquisition of haircare brand Christophe Robin and continued to develop its end-to-end technology platform, THG Ingenuity, which powers both its own brands and a growing number of major global consumer groups.

THG also expanded its international fulfilment centres and acquired a new £60m facility in Poland.

Matthew Moulding, founder and chief executive of THG, 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 company also created 1,500 jobs during the period, with most jobs being based in the North West, resulting in the company’s worldwide workforce now totalling 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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