Hudson Malta plc delivered a 54 per cent increase in its profit before tax during 2024, citing an expansion in its retail footprint and an increase in net interest income for the result.

Turnover increased by 7.3 per cent to reach €64.1 million, although a decrease in the gross profit margin to 33.8 per cent (2023: 35.1 per cent) led its overall gross profit to increase by a more muted 3.5 per cent, to €21.7 million.

Operating and administrative expenses grew by €454,723, resulting in a stable operating profit of €2,395,047.

After taking into consideration the net impact of financing, which was €449,634 greater than in 2023 mainly due to higher interest rates, the group reported a profit before tax of €733,829 compared to a profit before tax of €475,917 in 2023.

Hudson Malta Group operates the retail stores in Malta for its parent company, Hudson Holdings Ltd, and is also involved in the importation and distribution of branded consumer products in Malta and Italy.

Hudson Holdings Limited is a prominent retailer, distributor, and service provider specialising in sports and fashion. It represents globally renowned brands such as Nike, Tommy Hilfiger, Calvin Klein, Kiabi, Mango, Armani Exchange, Columbia, Converse, Crocs, Timberland, Urban Jungle, and Urban Bratz.

Apart from Malta and Italy, Hudson operates in over 30 territories, including Morocco, Algeria, Nigeria and Cyprus. However, the present results only relate to the company's retail activities in Malta and distribution activities in Italy. 

Earlier this year, the UK-based Frasers Group acquired a 41.98 per cent shareholding in Hudson Holdings.