The Hut reports record sales

The “record” performance by the group - which owns websites Zavvi.com, MyBag.com, Allsole.com, MyLabel.co.uk, HQhair.com, Washbag.com and MyProtein.com - has been driven by the group’s “strategy of retailing fast-moving consumer goods across its multiple branded websites, powered by its proprietary technology”.

A profit figure was not given. In the previous year the group recorded a loss before tax of £9m.

MyProtein.com, which The Hut acquired in May 2011 for £58m, contributed £16m to group sales in the seven months post-acquisition.

Chief executive Matthew Moulding said The Hut managed to gain market hare in the year, particularly in the final quarter.

“2011 has been another record year for The Hut Group. Our focus on delivering best in class value and service to our UK and international consumers has enabled the group to gain market share, particularly in the final quarter,” he said.

International sales now account for 35% of total sales.

Moulding added: “Our business model positions us well against the backdrop of a challenging High Street retail environment and the continuing sales channel shift towards online retail and therefore the Group is very well placed to continue its high growth.

“Our focus for 2012 is on driving strong organic growth by further improving our service to our customers, continuing to expand our product range and increasing our international sales.”

The Hut scrapped plans to float on the stock exchange last year, due to volatile economic headwinds. This caused finance director Paul Meehan to exit the business in October after just a year at the etailer.