Sales have topped £500m at online retailer The Hut Group, whose brands include Myprotein, Lookfantastic and MyBag, while earnings have jumped by two-thirds.
The group has posted a 50 per cent rise in group sales to £501m for the 2016 calendar year. International sales climbed by 89 per cent to £316m over the same period.
Meanwhile, EBITDA was up by 67 per cent to £50m.
More than half of its sales are generated from its own brands and half come from overseas after adding 100 new websites across the online retail group.
As well as health and beauty sites, such as Grow Gorgeous, the online retailer also bought Hale country club in Cheshire for £25m last year which it said will be developed to become a “global centre of fitness and wellbeing excellence”.
The Hut Group certainly has a good IPO story right now.
A few days ago, The Hut Group has acquired a marketing agency.
At the beginning of the year, The Hut Group announced a new loan of £345m for, mainly, acquisitions. This loan is also a good counterargument to The Hut Group planning anything regarding going public in the near future.
Fittingly, The Hut Group recently won the International Growth Retailer of the Year Award at the Retail Week Awards 2017.