Turnover at Townhouse, a luxury nail salon chain backed by the owner of Alton Towers, has more than doubled as it created hundreds of jobs during its latest financial year, it has been revealed.
Townhouse Group has posted a turnover of almost £13m for 2024, new accounts filed with Companies House show.
The total is up significantly from the £6.4m it reported for 2023.
However, over the same period the company’s pre-tax losses widened from £6.4m to £9.7m.
During the financial year, Townhouse’s headcount swelled from 250 to 449.
Townhouse was founded by Juanita Huber-Millet, who serves as its creative director, in 2018. Her husband, Jonathan Millet, is the firm’s chief executive.
Among the company’s shareholders is Nick Leslau, the chairman of Prestbury Investments who is the ultimate owner of theme park Alton Towers.
Other backers include JamJar Investments which was established by the co-founders of Innocent Drinks.
In the accounts, Townhouse said it had invested heavily in its central infrastructure in the year and “future growth areas” which contributed to its pre-tax losses widening.
During the year the group increased the number of salons from 30 to 34.
US expansion boosts Townhouse’s sales
Townhouse said it expects to “drive top-line growth” during its current financial year and “over time deliver improved unit economics”.
It added: “The directors remain confident in the group’s long-term trajectory and are committed to balancing expansion with operational discipline.”
In the UK, Townhouse has around 40 nail salons and further sites in the US.
Those US locations contributed more than £200,000 in revenue in 2024.
At the end of 2024, Townhouse’s gross margin had increased from 17.4 per cent to 31.5 per cent.
Its cash at year end also rose from £2.2m to £6.5m while its tangible fixed assets grew from £8.3m to £9m.
In terms of its operating EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation), the firm’s total improved from £1.1m to £2.3m.