THG reports strongest quarter of growth since 2021
THG, the London-listed firm behind fitness supplement brand Myprotein, has reported a better-than-expected uptick in sales following operating model changes.
Third-quarter revenue rose 6.3 per cent, the retailer told markets this morning, driven by 10 per cent in nutrition, alongside “continued momentum” in beauty.
This represents the highest organic quarterly growth since the fourth quarter of 2021, and beats company expectations of 3.9 per cent to 5.9 per cent growth.
THG plc was the owner of Morning Wire until its Ingenuity division demerged from the wider group at the start of 2025.
CEO Matt Moulding said he was “pleased to report a solid third-quarter performance, with a return to growth across both THG Beauty and THG Nutrition.”
“Our progress is a direct result of the strategic initiatives and operational change we have implemented, and we are well positioned for the key trading period ahead,” he added.
Shares in THG have jumped more than 27 per cent in the last six months, putting THG back in the FTSE 250 index after leaving earlier this year.
In an analyst note earlier this year, JP Morgan said it saw “the tide turning post a period of strategic evolvement.”
“We see first signs of improved performance following a period of extensive strategic evolvement,” it said, adding that the THG Ingenuity demerger has focused management on core operations.
Moulding said: “In THG Beauty, our focus on commercial discipline and elevating the brand proposition has driven a return to revenue growth, supported by a strong advent launch.
“Within THG Nutrition, we remain on track with our focus on expanding Myprotein’s D2C market share, alongside accelerating our global offline presence through retail and brand partnerships. A number of exciting new partnerships are set to be announced soon, helping us to further build on this year’s positive momentum.”