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Record-breaking sales and profits at The Hut Group

The Hut Group’s sales jumped 50% to £501m for the year to 31 December 2016, compared with the year before, while EBITDA soared by 67% to £50m.

International sales were up 89% year on year to £316m and gross margin was up 424 basis points.

During the year the firm invested £252m in growth projects, including £17m of share buybacks and £91m in its technology platform to enhance its functionality and global capability.

The platform now operates in 47 languages and 30 currencies, delivering to 195 territories.

The Hut Group created 1,200 UK jobs in 2016, taking its total workforce to 3,100 by the end of the year. The group expects to generate a further 3,000 new jobs over the next two years.

Chief executive Matthew Moulding described 2016 as “a step change in investment” for The Hut Group, and predicted 2017 would be “another landmark year”.

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