Beauty, nutrition and activewear group THG issued aa trading statement to coincide with its annual general meeting on Wednesday and it reported revenue growth in the first half of around 6.5%.
It also said that for the first half its adjusted EBITDA will be at least £40 million, up 95%, adjusting for the sale of an ingredients business that it exited last September. That all supports its strongest first half free cash flow since 2021. And it reiterated its guidance for the full year.
In THG Beauty, revenue growth was underpinned by a strong skincare performance (+9.2% YTD). Lookfantastic “continues to outpace the UK prestige beauty market, supported by new brand launches including Dyson, BEAME and Dr. Loretta, alongside a growing active customer base.”
Campaign and ambassador activity “remains a key engagement tool”, with the Olivia Attwood launch “delivering strong conversion and positive brand health momentum. Spontaneous awareness, prompted awareness and consideration are all up amongst the target audience, further positioning THG Beauty as the destination of choice for discovery across regime and trending brands”.
Lookfantastic “continues to demonstrate social commerce leadership as the #1 multi-brand beauty retailer on TikTok Shop”, delivering YoY revenue growth of around 48% in Q2.
At THG Nutrition, sales growth continued across online and offline channels with an ongoing mix shift towards “gross-margin-accretive products and categories helping to mitigate highly elevated whey input costs alongside strategic pricing”.
It said a “focus on innovation across the portfolio during the first half has been a key growth driver”, including influencer-led activewear collaborations supporting YoY AOV growth.
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