THG has reported its first half 2021 results, which showed group revenue of £958.8 million, an increase of 44.7%, year-over-year. The company has also announced that THG Beauty will be separated and listed on a public share-trading exchange in 2022.
THG Beauty reported £460.8 million in revenue for the first half, representing a 55.9% year-over-year-gain, and a jump of more than 142% compared to 2019 results.
Overall operating loss was £17.4 million.
Operating profit was £11.2 million.
In addition, THG report a gross profit margin of 46.5%.
Matthew Moulding, executive chairman and CEO of THG, said:
I am delighted to announce a strong first half performance across all divisions, as we continue to invest significantly in support of our strategic growth ambitions. This investment is across our entire business, including our infrastructure, namely our recently-opened ICON campus and our global distribution network, in our Ingenuity platform, in building leading digital brands, and most importantly, in our people.
In May, we announced the financial and trading partnership opportunity with SoftBank, one of the world’s leading technology investors. We are only at the start of this relationship, but we are pleased to have already established multiple live commercial partnerships between the SoftBank portfolio and our Ingenuity platform. We continue to see an acceleration in levels of enquiry from global enterprises looking to leverage the Ingenuity platform, and I believe the global growth opportunity for Ingenuity to be unparalleled.
Today we also update on the roadmap to separating our key trading divisions, and announce our commitment to list THG Beauty in 2022, which we believe will create further value for our shareholders.
We are also proud to be launching our 2030 sustainability strategy, outlining our key priorities and commitments in the coming weeks.