The Hut Group spent more than £300 million on acquisitions to continue its expansion plans.
The group purchased materials from online skincare retailers Dermstore and Claremont and David Berryman for £59.5 million on a £259 million deal.
The HUT Group floated its shares on the stock exchange in September and was valued at £6.8 billion on Christmas Eve.
Matthew Moulding, CEO, said: “The key driver behind the decision to list THG on the London Stock Exchange just three months ago was the group making major global investments, such as Dermstore.com.
“Access to capital through our London list has helped us accelerate our growth plans and establish a global leadership position in the exciting beauty industry.”
In October, the group had a revenue growth of +51.3% in the third quarter, with online revenue growth of £320 million compared to the previous year. Hut Group has increased its full-year revenue guidance for 2020 from £1.488 billion to £1.52 billion.
Moulding said: “We are pleased to report strong trading periods in our first quarter update as a public company, including an upgrade to revenue growth guidance for 2020. We would like to thank all our colleagues for their significant contributions so far. With all divisions, numerous THG Ingenuity partnership deals and the recent acquisition of luxury skincare brand Perricone MD, our strong organic revenue growth indicates the strategic direction and progress of the time.
“Our decision to list on the London Stock Exchange provides a strong platform to enhance both ingenuity and the profile of our brand, further supporting their strong organic growth. Our acquisition strategy is focused on complementing organic growth with the addition of branded IP and Ingenuity infrastructure and remains unchanged.”
Hut Group’s shares are 5.29% +5.29% at 737.00 (1149GMT).
