PCR Tech and IT retail, distribution and vendor news
Online retailer The Hut Group, which includes entertainment brand Zavvi.com, has revealed strong sales for 2012 and may now be considering floatation.
In the 12 months to December 31st, 2012, sales rose by an impressive 30.4 per cent, to £145.3 million, while it made a profit of £300,000 compared to a £12.7 million loss the year before.
Many of these gains were attributed to growth in the health and beauty sector, although the group does include Zavvi.com, an online entertainment retailer that has been nominated for PCR Awards, which sells games, technology, consumer electricals and peripherals amongst other goods.
The firm almost floated back in 2011 but pulled out – now there are rumours it could look in that direction again
Chief executive Matthew Moulding, commented: "I am pleased to report another strong set of trading results for the Group.
"Our substantial and recurring investment in the group’s proprietary operating platform is fundamental to increasing operating leverage which the group is realising as we build scale.
"The platform has been a key factor in delivering the trading growth in 2012 which continues in 2013. Continuous investment in our data platform generates ever deeper trading insight into our customers and is a key component in ensuring the group generates low cost, highly relevant visitors to our websites."
