Sales at Manchester-headquartered The Hut Group have passed £1bn for the first time, while the consumer brand and tech group has also agreed new €1bn financing facilities to drive investments in beauty, nutrition, technology and infrastructure.
The firm announced its results for the year to 31st December 2019 today, with group sales up 24% to £1,140m (2018: £916m).
Gross profit increased 22% to £511m (2018: £417m) and EBITDA was up 22% to £111m (2018: £91m). International sales now comprise 66% of group sales.
Founder and CEO Matthew Moulding said: “It has been a year of significant progress across the Group. We have continued to make huge investments to develop our infrastructure, technology, brands and people, which continue to deliver substantial growth, with Group Sales of £1.1bn in 2019.
“THG has continued to develop our end-to-end technology platform, THG Ingenuity, which powers both our own brands and a growing number of major global consumer groups.
“We have significantly expanded our global fulfilment capability, broadening our reach to customers in 169 countries. THG has also made important investments in our THG Experience portfolio, expanding the offering of our influencer platform, bringing over 5,000 influencers currently to both our own and our partner brands.
“Our people are the key to our success, and we have continued to invest in our talented teams. The development of the THQ business campus continues at pace and demonstrates our commitment to investing in our people.
“THG has an excellent platform for growth with an outstanding portfolio of prestigious brands, powered by THG Ingenuity.”
The health and beauty giant created 1,500 jobs in 2019, largely in the North West, taking its total worldwide workforce to more than 7,000.
In March 2020, the Group created more than 500 new positions across its manufacturing and distribution sites with a particular focus on applicants in the North West who had lost their jobs as result of Covid-19.
