Business
Interim results for half-year ended 30 June 2025
THG PLC announced its interim results for the half-year ended June 30, 2025, revealing a return to Group revenue growth in Q2 at +0.9%. Group revenue for H1 2025 was £783.4m, a decrease of 2.6% on a constant currency (CCY) year-over-year basis. The gross margin stood at 41.1%, compared to 42.6% in H1 2024. Adjusted EBITDA was £24.0m, down from £37.1m in H1 2024. The company reported cash and available facilities of £279.4m following H1 2025 refinancing, which increases by approximately £103m proforma after Claremont Ingredients disposal. THG Beauty expects H2 revenue growth of +1.0% to +3.0%, while THG Nutrition anticipates +10.0% to +12.0% growth. Net debt was £321.4m, reducing to around £220m proforma following the Claremont Ingredients disposal. Disclaimer*
About this update from Thg Plc
[{"type":"text","content":"\n\n11 September 2025 \n \nTHG PLC\n \nInterim results for the half-year ended 30 June 2025\n \n \nH1 performance in line with guidance\n \nReturn to Group revenue growth in Q2 at +0.9%\n \nPositive start to H2 with both businesses in growth\n \n \nTHG PLC (\"THG\" or the \"Group\"), announces its interim results for the half-year ended 30 June 2025 (\"H1 2025\").\n \nTrading momentum from Q2 into Q3 continues to build positively, with the strategic model changes implemented across both THG Beauty and THG Nutrition throughout 2024 now bearing results. This momentum underpins confidence in full year and medium-term outlook.\n \nThe successful THG Ingenuity demerger at the start of H1 alongside the Q3 disposal of Claremont Ingredients to Nactarome Group for £103m, puts the Group on an accelerated path towards a net cash position, with the H1 2025 refinancing securing long-term committed facilities.\n \n \nKey financial headlines\n \n· Group revenue: £783.4m (-2.6% CCY YoY[1])\n \n· Gross margin: 41.1%[2] (H1 2024: 42.6%), reflecting whey price impact. Gross margins expected to return to growth in H2\n \n· Adjusted EBITDA: £24.0m (H1 2024: £37.1m), in line with August 2025 trading update. The result was weighted towards Q2, with Q3 expected to be meaningfully higher, reflecting positive H1 exit momentum\n \n· Cash and available facilities of £279.4m following the H1 2025 refinancing which substantially reduced gross debt. This increases by c.£103m proforma for the received disposal proceeds of Claremont Ingredients\n \n· Strongest trading performance of FY 2025 so far in Q3, with guidance unchanged:\n \no THG Beauty expected to deliver H2 revenue growth of +1.0% to +3.0% (H1 2025: -5.9%)\no THG Nutrition expected to deliver H2 revenue growth of +10.0% to +12.0% (H1 2025: +3.1%)\n \n \nMatthew Moulding, CEO of THG, commented:\n \n\"I'm really pleased at how THG has gained momentum throughout the first half and into Q3. A slower start to the year in Beauty, alongside record whey prices in Nutrition, initially held back performan...