Despite a rise in sales, Holland & Barrett has reported another year of losses. The health food retailer, headquartered in Nuneaton, disclosed a pre-tax loss of £61.8m for the 12 months leading up to September 2024.
This follows previous losses of £65.3m and £59.6m over the last two years respectively, as reported by .
The company last reported a pre-tax profit in September 2021, amounting to £42.1m. However, Holland & Barrett, which is under the ownership of investment firm LetterOne, saw its revenue increase from £806.1m to £884.5m during the most recent financial year.
The business invested £96.3m in capital expenditure throughout the year, opening 36 new stores and refurbishing over 320 existing ones. These figures were released by Holland & Barrett itself, with full accounts expected to be filed with Companies House by the end of June.
Holland & Barrett reported an eight per cent year-on-year increase in both sales and gross profit for the first half of its current financial period.
'Landmark year' for Holland & Barrett
Alex Gourlay, executive chair of Holland & Barrett, described this as a "This has been a landmark year for our business – one defined by purpose, transformation and a significant investment in the future of this 150-year-old business."
for the company, stating: "This has been a landmark year for our business – one defined by purpose, transformation and a significant investment in the future of this 150-year-old business."
Gourlay stated: "With societal shifts towards prevention, testing and self-care, and insufficient public health care provision due to constraints on national health systems, there is an increasing unmet need which Holland & Barrett was well positioned to serve.
"It is with great pride, that we have taken the bold steps necessary to meet the evolving needs of our customers, accelerating our transformation journey and laying a strong foundation for long-term growth."
He added: "Our retail performance continues to outperform the Ƶ and Netherlands high streets and compares strongly against other European countries.
"We are energised by the momentum we've built and excited for the opportunities ahead. I could not be happier with the ongoing performance of the business or prouder of our colleagues who have been at the heart of delivering this strong growth."
