Tropic Skincare, the beauty brand founded by Apprentice finalist Susie Ma, has announced a remarkable 28 percent rise in profits, reaching £6.7 million.

Despite a 4 percent drop in sales to £62.3 million, Tropic was able to negotiate better terms with suppliers and reduce inventory by £1 million, bringing it down to £8.6 million. This strategic move has led to lower costs and liberated funds for reinvestment in the company.

This marks the first operational period for Ma, aged 35, since she regained the 50 percent share she had sold to Lord Sugar after her appearance on the reality TV series in 2011.

While details of the buyback deal remain undisclosed, it is believed to be one of Lord Sugar’s most lucrative investments, having initially acquired the stake for £200,000.

Reported by The Sunday Times Rich List, Ma’s net worth is estimated at £73 million, and she is in the process of repaying the billionaire investor in installments. Lord Sugar stepped down as a director in April 2022, and the company declared an £11 million dividend to shareholders in 2023, a significant increase from £6 million the prior year.

Ma, who began her journey selling body scrubs at Greenwich Market, now serves as the sole shareholder of Tropic. She expressed optimism for higher revenue in the coming year, noting ongoing investments in personnel, product development, software solutions, and manufacturing equipment. Most of Tropic’s creams and lotions are produced fresh daily at its facility in Croydon, Surrey.

Muhammad Bilal, the finance director, commented on the efforts to enhance gross margins through effective stock management, which allowed the company to increase profits while supporting various global charities.

Tropic Skincare is committed to philanthropy, donating 10 percent of its profits to charitable causes. In 2023, the company contributed £444,674 to United World Schools, which helps fund education for children in impoverished regions. The company has also constructed schools in Nepal and Cambodia, with plans for a new school in Madagascar by the end of the year.

Tropic Skincare operates through online sales as well as a network of over 20,000 part-time representatives known as “ambassadors.” These ambassadors receive training, a web platform, and earn commissions ranging from 25 to 35 percent on their sales. They initially invest £198 for a starter product kit with no ongoing fees.

Recently, the Invest in Women Taskforce, supported by the Treasury, reported that startups led by women only received 1.8 percent of total venture capital funding in the first half of this year, a decline from 2.5 percent throughout 2023. The taskforce aims to partner with private investors to launch a £250 million fund for female-led businesses.

Additionally, a JP Morgan Private Bank report examined companies founded or majorly owned by women, revealing that the share of rapidly growing women-led firms increased to nearly 30 percent in 2024, up from approximately 18 percent in 2021. These companies secured upwards of £4 billion in private investment in 2024, a significant rise from £781 million a decade ago, with the number of deals nearly tripling.

Government statistics indicate that women constitute 21 percent of all business owners. Research from the Bank of England and the Department for Business and Trade conducted in March showed that half of all businesses relied solely on internal financing for investments, with 70 percent preferring gradual growth over incurring external financial liabilities.