The Hut Group sales rise 54%

Sales for the period were up 54 per cent year-on-year.
Author:
Publish date:
5_the-hut-210.jpg

Online retailer The Hut Group has posted strong financial results for H1 2012.

Sales for the period were up 54 per cent year-on-year, with revenue jumped from £42.9m in 2011 to £66.2m.

Margins climbed from 0.7 per cent to six per cent thanks to a shift in sectors that saw it distance itself from low-margin businesses like books, music and white label agreements.

The Hut stocks a wide variety of toys, games, DVDs, music, health products and more.

The company has also confirmed the appointment of Martin O’Grady as its group operations director. It also successfully renewed and extended its banking facilitates with Barclays in May of this year.

The Hut Group’s database now boasts 6.6 customers while its websites attracted 44.1m visitors, up from 32m the year before. It has shipped 4.7m units to date this year, up from 3.5m.

Read the full story on MCV.

Want to receive up to the minute toy industry news straight to your inbox? Click here to sign up for the free ToyNews Daily Digest and Newsflash services. You can also follow ToyNews on Twitter and Facebook.

Related

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.