RE: This Morning14 Nov 2022 14:48
Only a few weeks ago …
We are pleased to announce today our Q3 trading update, with Group revenues up 2.1% YoY and 3.8% growth across our Nutrition, Beauty and Ingenuity divisions.
It has been another strong quarter of delivery across THG Beauty and THG Nutrition, reflecting the continued share gains in strategic markets. We remain committed to our strategy of supporting customers across global markets through investment in price protection.
Today we also confirm the key terms of the recently signed incremental £156 million banking facility from long-standing lending protectors on highly attractive terms.
THG Ingenuity, led by CEO Vivek Ganotra, has a strong and growing pipeline of large, high contract value clients and continues to expand propositions across the current client base.
As we enter our peak trading period, trading has remained positive, and we are in a strong position from a logistics and supply perspective to meet the expected uplift in demand.
Despite rising cost of living pressures, consumer behaviour remained stable throughout the quarter with stable average order values and repeat rates in line with the first half of the year.
Looking ahead to the end of the year, guidance on full year revenue, adjusted EBITDA and cash guidance remained unchanged.