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Holland and Barrett has seen revenues rise by 10% to £884.5m in what has been a “landmark year” for the group.
In the financial year ended 30 September 2024, gross profit for the health retailer totalled £524.2m, up from the £475.7m reported in FY23.
The retailer credited its performance to a “continuing customer-first strategy” and a “significant transformation strategy” to meet growing demand in the wellness and preventative health space.
During the year, Holland and Barrett opened 36 new stores and transformed over 320 existing locations as well as launched new partnerships and concessions with existing and new partners both across UK and Ireland, Netherlands and Belgium and its international division.
International partnerships have particularly seen “significant” momentum with full-year revenues up by 19% to £27.2m, compared to £22.8m in FY23.
Alex Gourlay, executive chair of Holland and Barrett, said:”Our retail performance continues to outperform the UK and Netherlands high streets and compares strongly against other European countries.
“We are energised by the momentum we’ve built and excited for the opportunities ahead. I could not be happier with the ongoing performance of the business or prouder of our colleagues who have been at the heart of delivering this strong growth.”
He added: “Holland & Barrett has already seen strong growth carry on into H1 of FY25, with sales and gross profit both up 8% year-on-year and customer numbers and satisfaction continuing to grow. As a result, confidence is high that the company will see a third consecutive year of strong growth driven by the significant acceleration of online sales in FY25.”
