Revenue climbed more than 50% at听The Hut Group听in the final quarter of 2020.听
The Manchester-headquartered firm, which listed on the London Stock Exchange last year,听delivered听sales听of 拢558.7m, versus 拢370m in the previous year.听
The听group added听more than听3.5m active customers during Q4 alone, with over 10.7m听added听during听the full year, while app users across the听group reached 2.6m听from almost a standing start at the beginning of 2020.听
鈥淚 am pleased to report another strong performance through Q4 2020, during what has been a transformational听year for THG,鈥� said听Executive Chairman and CEO听Matthew Moulding.听
鈥淔ollowing our successful listing on the London Stock Exchange in September 2020, we have accelerated our sales听growth across all areas of the听group, underpinned by record new customer numbers. We have also started听reinvesting capital raised at IPO, including over 拢360m in M&A, principally within the US beauty sector.听
鈥淔urthermore, we have also invested significantly in our people, creating 3,000 new jobs during 2020, largely within听the UK, but also across our international operations.听
鈥淓ach of these milestones further underpin THG鈥檚 strategic growth pillars outlined at IPO, giving management听significant confidence when looking ahead to 2021 and beyond.鈥�听
The firm has also听appointed听Tiffany Hall as an听independent听non-executive听director. Hall is a NED at听B&M European Value Retail SA听and听previously served as CEO of BUPA Home Healthcare听among other high-profile roles.听
鈥�Through her previous executive roles for leading consumer facing businesses, she will bring extensive sales and听marketing expertise to the Group, in addition to her plc experience,鈥� said Moulding.听听
THG, which has come under fire for a perceived shortcoming in corporate governance in the national press, also appointed听two听independent special advisors to support听its听audit and听risk committee:听Katie Vickery,听an international regulatory and compliance听partner at Osborne Clarke LLP,听and听Andrew Dyson,听a partner at DLA Piper, where he is听global听co-chair of the听data听protection,听privacy and听security听group.听听