Superdrug profits soar 71% in 2022
The company also invested in 12 new stores, resulting in a trading estate of 789 stores in the UK and Ireland at the financial period end
Superdrug has revealed that pre-tax profit soared by 71.7% to £77.8m in 2022, against the prior year’s £45.3m, as online trading volumes continued to track significantly ahead of pre-pandemic levels.
The health and beauty retailers also saw a 17% surge in sales to £1.3bn in 2022, up from £1.1bn in the prior year, which it has attributed to improved store footfall in city centres and a strong Christmas period.
According to Superdrug, its performance was also thanks to the proportion of company sales that were made up of its own brand products and products exclusive to the group during 2022.
In addition, the company also invested in 12 new stores during 2022, resulting in a trading estate of 789 stores in the UK and Ireland at the financial period end.
It recently announced plans to invest in an additional 25 stores this year to expand its brick-and-mortar retail footprint.
Peter Macnab, CEO of Superdrug, said: “Our annual report shows the real resilience and strength of the Superdrug business, despite ongoing inflation and upwards pressure on business costs.
“I would like to thank our 13,430 colleagues for their ongoing energy and passion, which has ensured Superdrug can continue to bring the best in accessible health and beauty to as many customers as possible.”
He added: “Christmas 2022 was a particularly positive trading period for Superdrug and we have certainly carried this momentum into 2023, with customer footfall continuing to increase and all of our categories performing well, particularly cosmetics which had a turbulent few years throughout the pandemic.”
