// Profit before tax rise 141.3% to £45.3 million at Superdrug
// Ecommerce sales were almost 50% higher in its latest financial year than in pre-pandemic 2019
Superdrug’s pre-tax profit rose by 141.3% to £45.3 million in the 53 weeks of its 2021 financial year despite continued disruption caused by the pandemic.
The health and beauty retailer also increased its revenue by 5.1% to £1.2 billion as online sales rose by almost 50% compared to 2019 pre-pandemic levels.
The higher profit and revenue were helped by the easing of Covid-19 restrictions and higher footfall to physical stores.
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Superdrug said it is now seeing significant pressure on operating margins due to inflation and is “doing what it can” to minimise the impact of price rises.
Superdrug chief executive Peter Macnab:“The inflationary environment started by the Covid-19 pandemic has now been accelerated by the Ukraine crisis and we see significant pressure on retail’s operating margins, as well as reduced consumer confidence and disposable income,” he says. “We are working hard to support our customers through these challenging times and doing what we can to minimise the impact of price rises, as we stand firm in our mission to bring the very best of accessible health and beauty to the high street.”
Macnab adds: “Although we expect the UK retail environment to remain challenging, the resilience of our online and healthcare channels, coupled with our clear future strategy to operate in both the offline and online channels, focus on our cost base, and drive efficiencies that can be invested in improving our customer and colleague offering, leaves us well positioned to grow successfully in 2022 and beyond.”