LONDON (ShareCast) - (Sharecast News) - THG confirmed full-year guidance on Tuesday, after strong demand for beauty advent calendars and an improving performance Stateside boosted third-quarter numbers.
Updating on trading, the firm said revenues in the three months to 30 September had grown 6.3% on a constant currency basis to £405.2m.

Both divisions saw sales improve, rising 4.2% in beauty to £258.2m, and by 10% to £147m in nutrition. On a reported basis, sales eased 1.2% in beauty but rose 9.3% in nutrition.

THG, which owns Lookfantastic, Cult Beauty and Myprotein, among other brands, said beauty was on track for "record" advent calendar sales.

In the US, the retail performance continued to improve, THG added, boosted by category growth in luxury skincare and devices.

Nutrition, meanwhile, benefited from its ongoing global expansion, including launching in 2,500 CVS stores in the US.

As a result, THG said the company had seen the highest organic quarterly growth since the final three months of 2021, leaving it well placed as it entered the crucial fourth quarter.

It continued: "The board's full-year performance expectations remain unchanged, and are expected to be in line with consensus, with the group entering its most profitable and cash generative period."

THG expects full-year revenue growth of between 1% and 3% in beauty, and between 10% and 12% in nutrition.

Matthew Moulding, founder and chief executive, said: "I'm pleased to report a solid third-quarter performance, with a return to growth across beauty and nutrition.

"Our progress is a direct result of the strategic initiatives and operational change we have implemented an are well positioned for the key trading period ahead."

Formerly known as The Hut Group, THG endured a difficult period after it came to market in 2020. Its shares tumbled as concerns about the company's unorthodox corporate structure and underwhelming performance mounted.

Since then Moulding has relinquished his controversial golden share, while numerous brands have been sold off as the firm refocused its portfolio. It also spun off its tech division Ingenuity.

As at 0845 BST, shares in THG were up 6% at 39.68p.

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