UK’s THG maintains outlook after quarterly sales rise

LONDON (Reuters) – British online retail platform THG reaffirmed full-year guidance that was cut in September as it reported third-quarter revenue growth of 2.1%.

The group, which has beauty and nutrition businesses as well as e-commerce services, said on Tuesday it was sticking with its full-year 2022 expectation of revenue growth of 10% to 15% and adjusted EBITDA of 100-130 million pounds ($113-$147 million), down from 161 million pounds made in 2021.

Shares in THG, formerly known as The Hut Group, have fallen 80% this year.

But it said sales growth of 4.9% and 2.9% respectively in its THG Beauty and THG Nutrition businesses reflected continued share gains in strategic markets.

It said it had made a positive start to the fourth quarter, with momentum expected to accelerate as it enters its peak trading period.

THG also said it had signed an incremental 156 million pound banking facility. It kept its guidance for year-end cash at about 500 million pounds.

($1 = 0.8864 pounds)

(Reporting by James Davey; editing by Paul Sandle and Jason Neely)