Online retailer says beauty and sports nutrition products performed well

The Hut Group, the recently floated online retail company run by billionaire Matthew Moulding, has upgraded its profit forecasts after strong sales at its beauty and sports nutrition brands during the coronavirus pandemic.

The Manchester-based company which floated on the London Stock Exchange in September, said sales rose 51% to £558.7m during its fourth quarter, beating previous expectations of an increase of between 40% and 45%.

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