By Ian Walker
THG PLC on Tuesday reported a 2.1% rise in third-quarter revenue–which was boosted by beauty and nutrition, its two largest units–and backed its full-year guidance.
The U.K. e-commerce company–known as the Hut Group–said group revenue for the quarter ended Sept. 30 was 518.6 million pounds ($584.9 million), compared with GBP507.8 million a year earlier. Beauty revenue rose 4.9% to GBP259.7 million, while nutrition rose 2.9% to GBP163.8 million, it said.
THG said it has had a positive start to the fourth quarter, with momentum expected to accelerate as the group enters the peak period for its business.
The company backed its full-year guidance for adjusted earnings before interest, taxes, depreciation and amortization of between GBP100 million to GBP130 million before software-as-a-service cost reclassification.
“As commodity prices ease further, we remain well positioned to grow margins into 2023, whilst reducing pricing to consumers. This positions the group well in continuing to expand market share,” Chief Executive Matthew Moulding said.
“As cost of living pressures rise, customers are continuing to prioritize beauty, health and wellness categories and, through investing in bringing them into and retaining them within the THG ecosystem, we are laying the foundations for our future growth.”
Write to Ian Walker at [email protected]
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