The value of shares in THG PLC jumped 14% in one day after it reported a return to group revenue growth in the second quarter of the financial year.
On Wednesday morning, in a statement ahead of its AGM, the listed retailer – which comprises the MyProtein sports nutrition brand and Lookfantastic beauty website – said trading had been much improved across both its beauty and nutrition divisions.
Its share price rose to 32p by the end of trading on Wednesday, 24% up over five days and 32% in the last month. Its market cap currently stands at £445m.
THG Beauty is expected to deliver a revenue decline of between 2% and 3%, much improved on the Q1 decline of 9.8%.
Positive momentum within THG Nutrition continues to build, the firm said, with the business growing at its fastest rate since Q1 2022. Q2 2025 revenue growth is expected to be between 5% and 7%. In Q1 it was 0.1%.
Its FY 2025 guidance remains unchanged.
Last week former NCC CEO Rob Cotton and THG founder Matt Moulding became embroiled in an extraordinary war of words on social media.
Cotton stepped down as the chief executive of Manchester-headquartered cyber security group NCC in 2017 following two profit warnings.
He had taken to LinkedIn to accuse Moulding of ‘single-handedly’ overseeing the ‘destruction’ of THG’s share price from 500p at its IPO in 2020 to around 25p.
Cotton was responding to an article in BusinessCloud, which reported research by Retail Gazette comparing the pay of the UK’s top retail CEOs.