Creightons PLC (LON:CRL) shares shot higher on Wednesday after the beauty and health products company reported a sharp rise in first-half profit and revenue.
Profit before tax gained 44.4% to £1.4mln and revenue increased by 33.5% to £22.3mln in the six months to September 30.
e-commerce business sales grew
The company said private label sales exceeded group sales growth, with sales increasing by 61.4% on the prior year.
“The continued development of sales with a new retailer and range extensions with our largest customer were the main drivers of this growth,” executive chairman William McIlroy said.
Contract sales increased by 19.8% and sales of own branded products grew 11.2%.
McIlroy said during the period, the group focused on winning and extending business with key UK retailers in growing their personal care and beauty market share as well as realigning contract accounts based on margin performance.
He added that Creightons grew e-commerce sales of branded products in the period, albeit from a low base, and is investing in digital platforms to further increase its reach and capability.
The interim dividend was maintained at 0.15p each.
Shares were up 14.8% to 31p in midday trading.