Shares in THG plc jumped 10.9% today after the online retail group posted its highest organic growth in four years.
Group revenue rose 6.3% to £405.2 million in Q3 2025, marking the best quarterly performance since late 2021.
Growth was driven by a 10% rise in THG Nutrition and continued momentum in the Beauty division.
Its shares at the close of the market on Tuesday were trading at 41.5p – up from 37.4p at the close of play yesterday.
This is the highest it has been since early January and its market cap now sits at £520.4m.
The update has reassured investors that the Manchester-based firm’s turnaround plan under CEO Matthew Moulding is gaining traction.
Revenue guidance for the second half of 2025 points to further improvement, with THG Beauty expected to grow 1-3%, Nutrition 10-12% and an implied group uplift of 3.9-5.9%.
Moulding described the results as “solid”, highlighting a return to growth across both core divisions.
In a LinkedIn post, he said: “For the first time in almost four years, both Myprotein and Beauty were in growth at the same time – just in time for peak trading.
“It’s hard to describe how much it’s taken to get here. Four years of chaos, pressure, and pushback. Every possible curveball. Every doubter.
“But this is what rebuilding looks like. No shortcuts. No spin. Just graft.”
THG has spent the past two years simplifying its structure, selling non-core assets such as Claremont Ingredients for £103m, reducing debt and bringing more technology and automation into its operations.
The company, which recently returned to the FTSE 250 index, says AI and robotics have been key to improving efficiency and cutting headcount, part of what Moulding called a “brutal rebuild”.