THG says it returned to positive constant currency revenue growth of 3.2 per cent in September which was driven by strong performance in its beauty division. Revenues had actually fallen by an overall 4.4 per cent to £466.5 million but the business said that its capex spend will be c£30m lower than previously guided.
THG CEO Matthew Moulding said: “Q3 has been another strong quarter of progress across the Group, with each division delivering improved performances. The pivots made within each division to ensure they thrive in a high-inflation global environment are bearing fruit.
“We remain focused on restoring margins to pre-inflation levels while continuing to focus on cash generation. This is reflected in a best-ever Q3 profit performance from our Nutrition division.”
THG has maintained its full-year revenue and profit outlook.
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