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THG has reported that fourth-quarter revenues increased 7% year-on-year, making it the best-performing quarter of the year and lifting second-half revenue growth to 6.7%.
The group’s performance was also about 14% ahead of the top end of the company’s previously stated guidance range of 3.9% to 5.9%. THG attributed its performance to higher sales at its Beauty division.
Meanwhile, full-year revenues at the Manchester-based ecommerce group increased 2.3% in the year to 31 December 2025, marking its first year of growth since 2021 and a recovery from a 2.5% decline in the first half of the year.
The outperformance was led by THG Beauty, which delivered second-half revenue growth of 5.5%, well ahead of its guidance range of 1% to 3%. Fourth-quarter growth at the division was its strongest since the final quarter of 2021, supported by double-digit growth at Lookfantastic in the UK and Ireland.
THG Nutrition reported second-half revenue growth of 9.2%, broadly in line with guidance. Excluding Asia, growth was 12.7%, driven by pricing, offline retail expansion and higher sales of adjacent categories such as activewear and creatine.
Adjusted earnings expectations for the full year remain unchanged and in line with market consensus, the company said.
According to the group, November and December revenues rose by about 8%, providing confidence in trading momentum moving into the first quarter of 2026. It added that foreign exchange headwinds eased through the year, with yen and dollar weakness largely offset by euro strength by the final quarter.
Disposals and discontinued activities weighed on reported growth, reducing full-year revenue growth by 330 basis points and fourth-quarter growth by 290 basis points. These included the sale of the group’s luxury beauty portfolio and the disposal of Claremont Ingredients within THG Nutrition.
THG ended the year with more than £330m of cash and available facilities, which it described as a highly liquid balance sheet.
During the period, Lookfantastic launched a same-day delivery partnership with Uber Eats in London, while own-brand performance improved following earlier investment in product development and distribution.
Matthew Moulding, chief executive of THG, said: “In THG Beauty, our strategy to focus on core categories and territories is delivering clear results, with Lookfantastic UK achieving exceptional growth.
“THG Nutrition has delivered its fourth consecutive quarter of revenue growth, driven by the strength of the Myprotein brand and our successful offline global expansion strategy.”
He added: “We enter the new year with strong trading momentum and a clear focus on continuing to deliver quality, value and newness for our customers.”
