Superdrug has announced a 141 per cent increase in pre-tax profits to £45.3 million.

The retailer’s annual report for the 53 weeks of its 2021 fiscal year compared to pre-pandemic profits of £18.8 million.

The health and beauty retailer also posted a 5.1 per cent increase in revenues – a result largely attributable to a 50 per cent rise in online sales compared to pre-pandemic levels of 2019.

As pandemic restrictions eased and high street footfall recovered throughout the year, Superdrug also increased store revenue by 5.1 per cent to £1.16 million compared with £1.1 million in 2020.

Peter Macnab, chief executive of Superdrug, commented: “Our annual report shows that 2021 was another year spent tackling the effects of Covid-19 and I would like to thank our 13,100 colleagues for the continued energy, commitment and passion they have put into making Superdrug the strong and resilient business it is today.”

“The inflationary environment started by the Covid-19 pandemic has now been accelerated by the Ukraine crisis and we see significant pressure on retail’s operating margins, as well as reduced consumer confidence and disposable income.”

He added: “We are working hard to support our customers through these challenging times and doing what we can to minimise the impact of price rises, as we stand firm in our mission to bring the very best of accessible health and beauty to the high street.”

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