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PRIVACY
Retail & Consumer

Revenue at Steven Bartlett-backed Huel passes £100m

The company was founded by Julian Hearn and James Collier in 2014

Huel(Image: Huel)

Revenue at meal replacement brand Huel, which is backed by Dragons' Den star Steven Bartlett, surged past £100m during its latest financial year.

The company has revealed its sales increased to £103m in the 12 months to the end of July 2021, up from £72m in the prior year.

Those figures compare to the firm's revenue of £3m during its first year, which then increased to £9m, £26m and then £50m in the following financial periods.

READ MORE: Steven Bartlett - Companies the Dragons' Den star has invested in

The business received a £20m investment from Highland Europe towards the end of 2018 while Social Chain co-founder Steven Bartlett is also an investor.

Huel confirmed its º£½ÇÊÓÆµ sales increased by 45%, there was a 42% rise in the US as well as a 43% in the rest of the world.

The company added its underlying EBITDA increased £700,000 to £2m while making "significant investment into customer acquisition, product innovation and team expansion".

Huel has also added former Rightmove chief financial officer Robyn Perriss to its board.