Retailer smashes past £100m profit milestone

HEALTH food retailer Holland & Barrett has smashed through £100m profits from its stores as it continues to go from strength to strength.

Its bricks-and-mortar operations, of 694 UK stores and 99 international franchises, increased sales by 15% to £424.7m in the year to September 2015. Pre-tax profits grew twice as fast, rising by one-third to £129.5m.

Holland & Barrett’s online sales, which sit as part of an intermediate holding company, increased by one-quarter to £30.5m.

The retailer’s other overseas interests, which aren’t included in consolidated financial statements, also added a further £120m in revenue.

Holland & Barrett is on site building a 45,000 sq ft extension to its Nuneaton headquarters which would provide the capacity to nearly double its 300 staff and it won a Queen’s Award for International Trade earlier this year.

“Both the activity in the year and the year end financial position of the company are extremely strong,” said chief executive Peter Aldis.

The retail arm of the group ended the financial year with £17.1m in cash and net assets of £326.6m.

Holland & Barrett has been owned by American private equity group Carlyle since 2010.