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The Hut Group sales and profits soar

Group sales jumped 47% to £736m at The Hut Group, in a record breaking year for sales, investment and international growth for the business.

International sales were up 62% year on year for the year to 31 December, and now make up 70% of overall sales.

Gross profit at the company increased by 51% to £318m, while EBITDA was up 38% on 2016 to £69m.

In May 2018, the group increased its banking facility to £600m, for use in “significant strategic initiatives” and further potential mergers and acquisitions.

During the year the group invested £164m in strategic acquisitions, £39m of capex was spent on physical infrastructure projects including manufacturing, distribution, supply chain and office facilities, while £25m of investment went into the group’s technology platform.

Work has also begun on a new 870,000 sq ft head office at Manchester Airport. The work will be completed in stages over the next two years and will house around 10,000 employees.

Matthew Moulding, chief executive of The Hut Group, said: “2017 was a year of significant development and growth for The Hut Group, as we invested in our infrastructure, our technology platform, our people and our brands. The Hut Group is now firmly a global player and it is particularly pleasing to see over 70% of group sales coming from overseas, and 58% of total sales being of our own brands.

“During the year our acquisitions of Hangar Seven and UK2 saw us develop further our propriety technology platform, THG Ingenuity, and investments in key brands such as ESPA, Illamasqua and GLOSSYBOX further extended our leading beauty offer. In addition, our job creation continued apace and we welcomed over 1,800 colleagues to The Hut Group around the world.

“With our growing, talented workforce, our leading brands and our cutting-edge technology and infrastructure, we look forward to a further year of growth in 2018.”

 

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