// The Hut Group sales rise after “significant growth”
// Group sales at THG were up 92.4% on a two-year basis in the fourth quarter to December 31
The Hut Group has reported full-year sales of more than £2 billion but warns that 2022 is expected to be a more challenging year.
The online retailer witnessed a “significant growth” over the peak trading period.
Group sales at THG were up 92.4% on a two-year basis in the fourth quarter to December 31 2021.
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For the full year, revenues were ahead 91.1% to £2.18 billion.
Sales in 2022 are expected to increase between 22% and 25%.
Full-year adjusted EBITDA margin in the year just ended is likely to be in the range of 7.4% to 7.7% versus expectations of 7.9% as a result of adverse foreign currency movements.
Beauty was the strongest category, and THG received six orders per second during peak.
“We are delighted to report significant growth across all divisions during the peak trading period and to have delivered record annual sales of £2.2 billion,” THG chief executive Matthew Moulding said.
“The operational resilience and performance of our Ingenuity infrastructure was a highlight, dispatching over one million units per day at peak periods.
“The investment we have made in automation in the UK delivered year-on-year efficiencies, and we are on track to launch our first AutoStore facility in the US during Q2 2022, supplementing the six warehouses added to the network across three continents during 2021.
“2021 marked our first full year as a public company. Despite challenging conditions, we have scaled revenue and expanded our business model, particularly THG Ingenuity, well ahead of expectations given at our IPO 16 months ago.
“At the same time, we welcomed 3000 new employees across the world to the group, the majority of whom are within the UK, and completed many transformational projects including the opening of our 1m sq ft UK technology campus.
“The new year has started well, and we remain confident in delivering our strategic growth plans during 2022 and beyond.”
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