LONDON (ShareCast) - (Sharecast News) - E-commerce retailer THG said on Tuesday that the group had hit its downgraded full-year guidance, just 24 hours after it revealed it has received a buyout approach.
THG posted full-year adjusted core earnings of £64.1m, in line with market expectations, while the London-listed group said revenues rose just 2.7% to £2.24bn in its recently wrapped up trading year.

It also expects to report a similar low- to mid-single-digit rise in 2023.

Chief executive Matthew Moulding said: "While FY 2022 adjusted EBITDA was not where we planned at the start of the year, this was largely the result of our strategy to minimise the impact of inflation upon our customer base."

Shares in THG traded sharply higher on Monday after revealing it had received a "highly preliminary" buyout proposal from Apollo Global Management. However, THG opted not to disclose any further details of the plan.

As of 0920 BST, THG shares had slumped 7.08% at 88.98p.





Reporting by Iain Gilbert at Sharecast.com

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