THG holds guidance as sales trends improve in H1

(Sharecast News) - UK online retail platform THG maintained annual guidance as it reported a rise in adjusted core earnings and said sales trends were "gradually improving" into its second half. Adjusted core earnings of rose 45% to £47.1m for the six-months to June 30, in line with forecasts.

"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