Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Superdrug adds over 600 jobs and boosts profits despite tax and wage pressures

by July 2, 2025
July 2, 2025
Superdrug adds over 600 jobs and boosts profits despite tax and wage pressures

High street health and beauty giant Superdrug has shrugged off rising tax burdens and wage costs to expand its workforce by more than 600 roles and post a jump in pre-tax profits.

In newly filed accounts for the year ending 2024, Superdrug reported a pre-tax profit of £136.8 million, up from £111.6 million the year before. The performance came despite what the company described as “pressure” on its margins due to government-imposed hikes in the National Minimum Wage and employer National Insurance contributions.

The company’s headcount rose from 13,845 to 14,479 in 2024, adding more than 600 new roles, including through the opening of 13 new stores. This builds on the 400 new jobs Superdrug created in 2023.

However, the retailer warned that legislative changes from Chancellor Rachel Reeves’ budget have “compounded wage inflation” and added a “strain” to operating costs — concerns echoed in recent weeks by rival retailers including Bodycare.

“Government-driven decisions on areas like National Minimum Wage have compounded wage inflation and continue to put pressure on operating margins for retailers,” Superdrug said in a statement signed off by its board. “The company strives to offset [this] through its cost efficiency and procurement activities.”

Superdrug’s revenues also rose over the period, from £1.5 billion to £1.6 billion.

Despite the positive results, the business warned that consumer sentiment remains cautious amid ongoing cost-of-living pressures. “Customers shopped around as they became more price sensitive,” the board noted, citing reduced high street footfall and squeezed disposable incomes.

Still, the health and beauty sector was one of the few retail categories to see year-on-year sales growth, and Superdrug credited its broad product offering and dual-channel approach — in-store and online — with helping it weather the storm.

Looking ahead, the company said it expects the UK retail environment to remain “challenging and strongly competitive” in 2025. Nevertheless, the directors said they remain confident that their growth strategy will enable the company to maintain momentum.

“The directors are confident that the strong trading performance in 2024 will continue into 2025 and beyond,” the filing stated.

Superdrug is owned by AS Watson Holdings, a Hong Kong-based group incorporated in the Cayman Islands. Sister brand Savers, also part of AS Watson, reported a rise in revenue from £754.8 million to £791.3 million and saw its pre-tax profits climb from £61.2 million to £69.9 million.

The update comes shortly after rival Boots reported a mixed financial year, with strong revenue growth and a surge in pre-tax profit for its Boots UK arm — up from £60 million to £269 million — despite closing more than 300 stores as part of a restructuring plan.

As the battle for high street dominance continues, Superdrug’s resilience in the face of rising tax and labour costs positions it as a key player determined to grow despite the economic headwinds.

Read more:
Superdrug adds over 600 jobs and boosts profits despite tax and wage pressures

0
FacebookTwitterGoogle +Pinterest
previous post
Federal climate website goes dark as Trump administration promises policy reset
next post
Amazon’s robots on verge of outnumbering human warehouse staff as AI ramps up

You may also like

Protecting Small Business Interests Through Divorce

June 14, 2025

How to List Your Cryptocurrency on Exchange: Typical...

December 29, 2023

Businesswoman ‘facing bankruptcy’ after being sued for Facebook...

April 25, 2023

Nostalgia Marketing: How to Implement Emotion into Your...

August 3, 2023

Podcast services startup Auddy raises £2.5m

August 11, 2022

Heathrow Faces £900 Million Business Rates Bombshell

June 16, 2024

UK House Prices Expected to Stagnate in 2024,...

June 14, 2024

How to Choose the Right SEO Agency for...

February 23, 2023

Appeal decision finds Haribo’s gummy bear figurative trade...

November 27, 2023

Lord Hammond to join £1bn Fintech Growth Fund

August 9, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • July 30 Event: Senators Tim Kaine and Rand Paul Discuss the Effects of Tariffs on the US Bourbon and Wine Industries

      July 23, 2025
    • Johnson erupts over ‘dangerous’ Biden ‘cover-up’ as Democrats push Epstein disclosure

      July 23, 2025
    • Trump admin official to meet with Israel, Qatar amid push for Gaza ceasefire

      July 23, 2025
    • A Wild Ride For the History Books: 2025 Mid-Year Recap

      July 23, 2025
    • Schumer, Democrats try to save face, blame GOP for possible government shutdown

      July 23, 2025
    • Trump’s approval rating holds steady amid deep partisan divide on deportations and ‘big, beautiful bill’

      July 23, 2025

    Categories

    • Business (8,552)
    • Investing (2,142)
    • Politics (16,170)
    • Stocks (3,224)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved