Musti Group keeps on growing rapidly and profitably

Musti Group reported a robust +20,2% growth for the last three months of the year. It was also the first time when Musti Group reported more than 100M€ in revenue per quarter.

This growth did not come at a cost of profits, quite the contrary. Musti Group a 47,5% Gross margin that has been improving steadily from 46,1% a year ago and 45,4% two years ago. Profit margin for the company was a good 10,1%.

The rapid growth of Musti Group has been partly a result of good Like for Like sales growth and partly a result of opening new stores. One has to note that the Like for Like growth has been declining steadily from the 10+% to 9,2% during the last quarter.

The growth is driven by Norway and Sweden, which is about to become the biggest market for Musti Group during this year.

Musti Group has for a long time been a front runner in developing its online business with 20+% of sales coming from online. However, that share has declined during the last year as the stores have started grow more rapidly.