Huel profits triple as it hits £200m sales milestone

A box of Huel products.
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Huel’s profit has skyrocketed as the brand surpassed £200m in sales after scaling up its range of products and growing its retail footprint.

The nutritional food and supplement brand reported its pre-tax profit had almost tripled to £13.8m in the 12 months to 31 July, up from £4.7m the year before.

It came as sales soared 16% from £184.5m to £214m, driven by its retail presence doubling to 25,650 stores.

Huel CEO James McMaster thanked the brand’s performance on its recent expansion of its product range, selling to more customers through its direct-to-consumer business and its growing footprint in physical retail stores.


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McMaster said: “This has been another year of growth and expansion for Huel….We broke the £200m revenue mark for the first time while also driving a significant uplift in profitability, helping to ensure that our growth is as sustainable as our products.”

“We continue to improve and widen our product offer to serve the demand from health-conscious consumers looking for convenient nutrition products.

“We’re proud of the progress we’ve made with new launches – including the Black Edition ready-to-drink meal, which became our most requested product ever. We also expanded further outside of meals products with the launch of our Daily A-Z Vitamins Drink and our Daily Greens powder.”

The brand’s success follows it recently completing the build on a new in-house manufacturing facility in Milton Keyes in a bid to boost its production, just two years after it secured a £20m investment round, and brought on investors and advisors including fitness influencer Grace Beverley, actor Idris Elba and his wife Sabrina Elba.

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Huel profits triple as it hits £200m sales milestone

A box of Huel products.
FMCGNews

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Huel’s profit has skyrocketed as the brand surpassed £200m in sales after scaling up its range of products and growing its retail footprint.

The nutritional food and supplement brand reported its pre-tax profit had almost tripled to £13.8m in the 12 months to 31 July, up from £4.7m the year before.

It came as sales soared 16% from £184.5m to £214m, driven by its retail presence doubling to 25,650 stores.

Huel CEO James McMaster thanked the brand’s performance on its recent expansion of its product range, selling to more customers through its direct-to-consumer business and its growing footprint in physical retail stores.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


McMaster said: “This has been another year of growth and expansion for Huel….We broke the £200m revenue mark for the first time while also driving a significant uplift in profitability, helping to ensure that our growth is as sustainable as our products.”

“We continue to improve and widen our product offer to serve the demand from health-conscious consumers looking for convenient nutrition products.

“We’re proud of the progress we’ve made with new launches – including the Black Edition ready-to-drink meal, which became our most requested product ever. We also expanded further outside of meals products with the launch of our Daily A-Z Vitamins Drink and our Daily Greens powder.”

The brand’s success follows it recently completing the build on a new in-house manufacturing facility in Milton Keyes in a bid to boost its production, just two years after it secured a £20m investment round, and brought on investors and advisors including fitness influencer Grace Beverley, actor Idris Elba and his wife Sabrina Elba.

FMCGNews

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