The Hut Group, owner of e-commerce sites suchas AllSole.com or MyBag.com, has posted a first half revenue of 66.2 million pounds that compares to the 42.9 million pounds it achieved last year same period. EBITDA accounted for 4 million pounds, up from 0.3 million last year, with significant progression on margins.
The company explains these figures following “two significant acquisitions over the previous 18 months, Lookfantastic and Myprotein, the Group has successfully integrated its supply chains and technology platform, leading to significant synergy benefits in the Period”.
Matthew Moulding, Chief Executive commented: "The Group is positioned as market leader in a number of differentiated and high growth sectors with significant barriers to entry. The combination of our market positioning and constant advances in customer insight through data analytics is driving both customer and revenue growth. The Group’s gross margin progression is very pleasing and now that we have integrated recent acquisitions and are delivering significant operating leverage, the EBITDA progression is a major highlight”.
With a 54 percent sales growth and a margin progression of 6 percent EBITDA on last year’s 0.7 percent, The Hut Group has continued to invest in its proprietary technology platform and brands ownership plans.