THG PLC has stuck to its current full-year guidance after what it called its “best quarterly performance” in the last year to date.
Revenue fell 4.4% for the three-month period ended September to £466.5 million with declines in all areas of the business, but the group pointed to an improving performance each month in the quarter, with the group returning to constant currency growth in September.
Full-year revenue guidance of 0% to -5% remains unchanged, with guidance for adjusted EBITDA and cash generation also held.
Matthew Moulding, chief executive, said: “The group is exceptionally well invested with a strong balance sheet, with each division well positioned to grow market share in any market conditions.”
THG added that each division continues to make progress against its stated strategy to return to sales growth and rebuild margins, while the impact of global de-stocking on its beauty manufacturing business has eased.
The firm said THG Nutrition revenue fell 4.6% in the period, but nonetheless delivered a record adjusted EBITDA.
THG said it also continues to monitor the FCA listing regime review in respect of the move to the premium segment. The company was also reported earlier this month to be considering the sale of its MyProtein division.
Moulding added: “Both our operations and inventory are well positioned ahead of peak trading, with the benefits of our investment in UK and US automated fulfilment centres enhancing the customer proposition through accelerated delivery times, positively influencing customer contact rates and overall satisfaction.”
