The Hut Group sales rise 54%

Sales for the period were up 54 per cent year-on-year.
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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.

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