Superdrug has recorded a decline in full-year profits, but boss Peter MacNab said he was “pleased with the company’s performance in challenging times”.
The health and beauty retailer posted a 5% fall in pre-tax profit to £88.3m in the 52 weeks to December 29, 2018, which was attributed to tough market conditions.
Total revenue increased 3.3% to £1.3bn year on year, while like-for-like sales rose 1.4%.
Superdrug’s market share rose to 9.8% during the period, up from 9.2% in the previous financial year.
The health and beauty retailer opened 23 new UK stores during the period and two in the Republic of Ireland, taking its overall store estate to 816.
The retailer ended the financial year as the biggest operator of nail and lash bars in the UK, bringing its total to 100 and 330 respectively.
Superdrug launched two new store formats during the year: a beauty studio format in Leicester and vegan beauty pop-up in London.
The latter was opened as a response to the rising demand for vegan beauty products from Superdrug’s customers as sales in the category grew 25% over the year.
Chief executive Peter MacNab said: “We are pleased with the company’s performance in challenging times, and I’d like to thank every team member for their hard work and contribution to these results.
“Our strategy for 2019 is to ensure we are offering all our customers everyday accessible health and beauty, giving them the beauty and health services they need in a vibrant and friendly store environment.”
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