Superdrug hails strong year as profits hit £111 million
Superdrug has announced a significant uplift in both sales and profit for 2023 after trade was boosted by a strong retail store performance, increased sales volume and continued own brand growth.
Sales rose by 11.8% to £1.5 billion while pre-tax profit climbed by 43% to £111.6 million.
Meanwhile, volume sales for total revenue increased by 4.2 % year-on-year which Superdrug attributed to its strategy of listing up to the minute ‘Made by’ Superdrug products to provide a significant point of difference.
During the period, the health and beauty retailer launched 14 new shops in prime locations such as Trafford Centre in Manchester and Brent Cross in London, as well as its largest site in Scotland at Braehead. It also modernised and refitted 45 existing stores with the installation of new shop fronts, improved layouts, upgraded fascias and internal signage, and other enhancements.
The retailer’s larger stores have spacious aisles for browsing products and also offer beauty studios, premium fragrance counters and health services.
Superdrug’s chief executive Peter Macnab said: “Our vision is to be the UK’s leading accessible health & beauty retailer with high quality, affordable products at the heart of everything we do.
“Over the last year, we’ve continued to invest into our store estate to provide customers with best-in class shopping experiences. The strong store sales growth gives us the confidence that our strategy is working, and new stores are being welcomed by customers and the local community.”
