THG

THG · Main Market · Personal Care, Drug and Grocery Stores · mcap £416m · 27.2p

THG owns online retail brands, mainly LOOKFANTASTIC and Cult Beauty in beauty and Myprotein in sports nutrition. It sells direct to consumers and, increasingly, through licensed products in shops.

Target	Promise	Said	Status
2024
H2 2024	H1 2024 revenue growth of 2-5% CCY, rising to high single digits in H2	23 Apr 2024	◐ Partly kept
	“Group revenue growth in H1 is anticipated to be in the range of +2.0% to +5.0% on a continuing basis, moving towards high single digits in the second half” Status so far H1 grew 2.2%, inside the range, but Q3 was -0.6%, not high single digits. “Momentum in Nutrition is especially pleasing, with an expected return to revenue growth in September, providing a strong platform for both peak trading and the year ahead.”17 Sep 2024 · Half-year Results “Continuing Q3 revenue of £433.1m (-0.6% CCY)”10 Oct 2024 · Q3 2024 Trading Statement
2025
FY 2025	Mid-single-digit revenue growth in FY 2025	23 Jan 2025	◐ Partly kept
	“RemainCo is expected to deliver mid-single digit revenue growth in FY 2025” Also stated 29 Apr 2025 Status so far FY 2025 constant-currency growth was 2.3%, short of mid-single digit, though H2 grew 6.7%. 26 Mar 2026 · Preliminary FY 2025 results
H2 2025	Nutrition H2 2025 revenue growth of 10-12%	6 Aug 2025	◐ Partly kept
	“THG Nutrition expected to deliver H2 revenue growth of +10.0% to +12.0%” Also stated 11 Sep 2025 Status so far Nutrition grew 10.0% in Q3 and 8.5% in Q4; H2 was about 9.7%, just below the range. “THG Nutrition \| 147.0 \| +9.3% \| +10.0% \| 450.6 \| +3.6% \| +5.3%”14 Oct 2025 · Q3 2025 Trading Statement “THG Nutrition delivered +9.2% H2 revenue growth (+12.7% excluding Asia), broadly in-line with the +10.0% to +12.0% guidance.”13 Jan 2026 · Q4 2025 Trading Statement
31 Dec 2025	Myprotein: 45m units through over 40,000 doors by end 2025	17 Nov 2025	◐ Partly kept
	“sell 45 million units globally through over 40,000 retail doors by the end of 2025” Result Over 43m licensed units were sold in 2025, slightly below 45m; door count not confirmed. “Licensing agreements with category leaders including Müller, Iceland and Jimmy's Coffee, led to sales of over 43 million Myprotein units into retail during 2025.”12 Feb 2026 · Myprotein licensing partnership with Greencore “The Greencore partnership forms part of Myprotein's wider strategic ambition to grow its offline and licensing footprint to 100,000 doors”12 Feb 2026 · Myprotein licensing partnership with Greencore