FAST growing online health and beauty retailer The Hut Group announced a 40 per cent leap in sales in 2014, but ruled out any chance of a stock market float this year as markets remain choppy for online firms.
Sales at the group, which bought out York-based premium international fashion retailer Coggles two year ago, said sales rose to £244m.
Underlying earnings leapt 50 per cent to £22.6m following strong growth in own brand and international revenues.
The group has invested £100m in a new world class distribution and manufacturing centre of excellence, announced by Prime Minister David Cameron and Chancellor of the Exchequer George Osborne.
Chief executive Matthew Moulding said: “2014 was a milestone year for The Hut Group, with record breaking revenue and earnings and strong international growth further cementing our position as one of the world’s largest and fastest growing online health and beauty businesses.
“Over the course of the year, we made a number of major investments, launching 17 international websites and building a bespoke distribution and manufacturing centre of excellence.”
Over the year the group shipped 13 million orders shipped to 190 countries.