THG has reported its third quarter 2022 results which showed group revenue was £518.6 million, compared to £507.8 million in the previous year; a 2.1% increase.
Year-to-date group revenue was £1,595.4 million, compared to £1,466.6 million in the previous year.
THG Beauty
THG Beauty reported revenue in the third quarter at £259.7 million, compared to £247.6 million in the previous year; a 4.9% increase.
Year-to-date revenue for THG Beauty was £812.4 million, compared to £708.4 million in the previous year.
Matthew Moulding, CEO commented:
Another strong quarter of delivery across our beauty and nutrition divisions has enabled market share growth in our key global territories. We remain committed to our strategy of supporting our customers around the globe through investment in price protection, without compromising on quality or choice.
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. 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.
The fourth quarter has started positively, and we are well positioned from a logistics and supply perspective to meet the significant uplift in demand anticipated during the cyber period, whilst continuing to deliver a high-quality customer experience.
I'm delighted to confirm the signing of the recently announced £156 million of incremental capital from three long-standing lending partners on highly attractive terms. Given the current market environment, this is a strong endorsement of the Group's long-term business model, alongside the recently announced increased investment from Qatar Investment Authority.
