Holland & Barrett celebrates second consecutive year of double-digit growth with investments focussed on future growth 

15 May 2025

• Holland & Barrett continues to invest in addressing the significant unmet customer need within the prevention and wellness space 
• Investments are working, with confidence growing in the company’s customer-centric growth strategy   

Holland & Barrett, the UK’s leading health and wellness retailer, has today announced its results for the financial year ended 30 September 2024, with 10% year-on-year sales growth and a gross profit totalling £524.2 million, and has also updated on performance and its focus in 2025 and beyond. 

This performance is credited to Holland and Barrett’s continuing customer-first strategy and a significant transformation strategy aimed at meeting growing demand in the wellness and preventative health space. 

Alex Gourlay, Executive Chair of Holland & Barrett said: “This has been a landmark year for our business – one defined by purpose, transformation and a significant investment in the future of this 150-year-old business. With societal shifts towards prevention, testing and self-care, and insufficient public health care provision due to constraints on national health systems, there is an increasing unmet need which Holland & Barrett was well positioned to serve. It is with great pride, that we have taken the bold steps necessary to meet the evolving needs of our customers, accelerating our transformation journey and laying a strong foundation for long-term growth.” 

To deliver against this unmet need, Holland & Barrett’s three-year transformation strategy and investments in FY24 have been focussed on four key areas:  

1. Talent and colleagues – including in ‘qualified to advise’ development and training, and conscious investments such as continuing to pay store colleagues around 5% above National Living Wage;  

2. The high street and communities – including making strong progress across store estate, opening 36 new stores and transforming over 320 existing locations as well as launching new partnerships and concessions with existing and new partners both across UK and Ireland, Netherlands and Belgium and our International division; 

3. Products and service innovation – including expanding own-label range with an additional 400 products, taking the total to over 1,000 new science backed efficacious products over the past two years such as the revamped healthy food range, which saw a huge 34% increase in sales. 

4. Transformation of technology and digital presence – including reshaping the entire operations by transitioning from legacy systems to more sophisticated platforms, enabling a greater customer reach with personalised solutions and a fully modernised supply chain.    

As a result of this strategic approach and these investments: 

• Customer numbers have continued to grow, increasing by 9%, reaching an all-time high, while the business has achieved its highest-ever customer satisfaction score of 80% in UK retail and ranked 7th in the 2025 UK Customer Satisfaction Index (CSI) Top 100, up from 9th in FY23.  
• Building on this performance, the business remains focussed on accelerating growth of the customer base through continued investment in the four key areas including product range, store network and digital capabilities. 

The financial highlights for the year ended 30 September 2024  

• Strong growth momentum in Group financial performance, delivering 10% year-on-year sales growth with revenue increased to £884.5 million, versus £806.1 million in FY23. 
• Total capital investment reached £96.3m in FY24 which included acceleration of the digital transformation, a key driver of the sustainable growth strategy as well as full overhaul of its UK distribution centre and global production facility, creating a more efficient, future-ready operation. 
• Gross profit increased to £524.2 million, versus £475.7 million in FY23, following significant investment in the business’ digital transformation strategy. 
• Our international partnerships have seen significant momentum with full-year revenues up by 19% to £27.2million, compared to £22.8 million in FY23.  
• Distribution and operating costs were £270.7 million, reflecting a cost-to-sales ratio improvement from 31.4% to 30.5%. 
• Ended the year with £71.7 million in cash and net assets of £644.4 million versus £31.7million in cash and net assets of £525.5 million in FY23 

Alex Gourlay, added on the results: "Our retail performance continues to outperform the UK and Netherlands high streets and compares strongly against other European countries. We are energised by the momentum we’ve built and excited for the opportunities ahead. I could not be happier with the ongoing performance of the business or prouder of our colleagues who have been at the heart of delivering this strong growth." 

Holland & Barrett has already seen strong growth carry on into H1 of FY25, with sales and gross profit both up 8% year-on-year and customer numbers and satisfaction continuing to grow. As a result, confidence is high that the company will see a third consecutive year of strong growth driven by the significant acceleration of online in FY25. 

Read our Annual Report & Consolidated Financial Results - year ended 30 Sep 2024