Personal Goods
By Frank Prenesti
Date: Thursday 14 Sep 2023
LONDON (ShareCast) - (Sharecast News) - Shares in UK online retail platform THG tanked on Thursday as the company's first half pre-tax losses widened and revenues slipped.
However, THG maintained annual guidance as it reported a rise in adjusted core earnings and said sales trends were "gradually improving" into its second half.
Pre-tax losses widened to £108m to £133m in the six months to June 30. Adjusted core earnings of rose 45% to £47.1m, in line with forecasts. Revenue fell 9.3% to £969.3m.
"Inflationary pressures provided significant challenges to consumers and businesses alike over the past 18 months. Our strategy of supporting our consumers through 2022, sacrificing margins in the short-term, is bearing fruit," said chief executive Matthew Moulding.
THG expects its annual revenue from continuing operations to be flat or fall up to 5%. Third-quarter continuing revenue was anticipated to be marginally ahead of Q2, with a notable step-on in THG Beauty and THG Ingenuity.
Reporting by Frank Prenesti for Sharecast.com
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Currency | UK Pounds |
Share Price | 64.70p |
Change Today | 0.30p |
% Change | 0.47 % |
52 Week High | 107.10 |
52 Week Low | 57.38 |
Volume | 2,167,926 |
Shares Issued | 1,330.63m |
Market Cap | £860.92m |
RiskGrade | 166 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:35 | 500 @ 64.70p |
16:35 | 500 @ 64.70p |
16:35 | 284,265 @ 64.70p |
16:35 | 158 @ 64.70p |
16:35 | 11,615 @ 64.70p |
CEO | Matthew Moulding |
CFO | Damian Sanders |
Chair | Charles Allen |
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