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The Hut eyes IPO after sales soar

Online retailer The Hut Group is considering floating on the stock market after sales rose 30% in the first half of the year, with estimates valuing the company at £350m.

The etail group, which owns 15 websites and also bought York retailer Coggles earlier this year, is understood to be planning a listing April or May next year, with Barclays expected to act as adviser.

In the first half of the year sales rose 30% to £77.1m. Full year sales are expected to reach £190m with an EBITDA of £15m.

The group previously hired advisers in 2011 to launch an IPO, however it later cancelled plans due to market uncertainties.

The Hut boasts an impressive roster of investors who have ploughed £68m into the company since 2010, including former Marks & Spencer chairman Sir Stuart Rose and former Tesco boss Sir Terry Leahy.

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