Published: March 26, 2026 at 9:03 am
THG CEO Matt Moulding said the company was ‘on the front foot’ after publishing its results for 2025.
The company described 2025 as a ‘tale of two halves’, starting with a ‘challenging’ Q1 but giving way to ‘accelerating momentum’, which culminated in the strongest quarter of the year in Q4.
The group delivered adjusted revenue of £1.72bn.
2025 started with the demerger of THG Ingenuity and included the disposal of Claremont Ingredients for £103m, which helped reduce net debt from £304.3m to £233m.
THG also announced its free-cash flow generation was anticipated to be in the range of £25m-£50m for the year ahead.
The company also said it expects to benefit from a VAT ruling on protein powders, with the potential of a successful £78m claim against HMRC.
THG’s share price rose from 31.60p to 34.18p in early trading on the back of the news. The company has a market cap of £558m.
CEO and founder Matt Moulding told the City: “We enter 2026 on the front foot with strong trading momentum and a focus on material free cash flow delivery.”