THE WHAT? AS Watson-owned Superdrug has reported its results for fiscal 2021, revealing a healthy increase in profit and revenue despite challenging trading conditions.

THE DETAILS The UK high street beauty retailer saw profit before tax hit £45.3 million, up 141.3 on the prior-year period. Revenue rose 5.1 percent to £1.168 billion, with digital sales up 50 percent compared to pre-pandemic levels.

THE WHY? Superdrug’s CEO Peter Macnab commented, “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. 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.

“Although we expect the UK retail environment to remain challenging, the resilience of our online and healthcare channels, coupled with our clear future strategy to operate in both the Offline and Online channels, focus on our cost base, and drive efficiencies that can be invested in improving our customer and colleague offering, leaves us well positioned to grow successfully in 2022 and beyond.”