Holland & Barrett has posted annual sales of £725.3m for the year to 30 September 2022, down marginally from the £726.7m it had generated in the prior year. However it also posted a pre-tax loss of $45.1m as against the £42.1m profit achieved for 2021.
The business had racked up exceptional costs of £25.1m from stock write-off, the closure of some stores, goodwill impairment and other costs associated with reorganisation.
CFO Nick Allen said: “Holland & Barrett has continued to invest in its underlying systems and processes which are creating firm foundations for growth.
“In the past 12 months, we’ve invested over £90m in the business and are committed to continue to invest in our transformation. In November 2022, our owner invested over £700m to leave the company debt-free.
“We believe this means the company now has one of the strongest capital structures in the sector and eliminates future refinancing risk. Our investments in FY22 have already started to deliver significant results for the business with strong FY23 trading and record first half sales.”
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