THG back in the black following improved H2 performance

26th Mar 2026 07:37

(Sharecast News) - Beauty and nutrition retailer THG reported a marked improvement in its preliminary full‑year 2025 performance on Thursday, returning to profitability as disposals and a strong second half helped drive a turnaround across the group.

THG said FY revenues rose 2.3% to £1.71bn, with second‑half trading coming in around 15% ahead of consensus and significantly stronger than the first half, while adjusted underlying earnings came in at £76.6m, ahead of guidance but down from £83.3m a year earlier. Operating profits improved to £8.1m, compared with a £147.9m loss in 2024.

The FTSE 250-listed firm also highlighted that its balance sheet had been strengthened by a £162m reduction in gross debt and £103m in cash proceeds from its recent disposal of its Claremont sale business. Debt facilities were extended to 2029.

Looking to FY26, THG said it had made a strong start to the year, supporting expectations for revenue and adjusted EBITDA growth, with free cash flow forecast in the £25m-£50m range.

Chief executive Matthew Moulding said: "Today's results reflect the strength of our business models and the exceptional execution by the team. I am pleased with how we have continued to transform THG during 2025, returning to consistent growth against a challenging macro-economic backdrop through disciplined investment in our brands and an unwavering focus on our customers worldwide."

As of 0820 GMT, THG shares were up 7.76% at 33.90p.

Reporting by Iain Gilbert at Sharecast.com

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