Highlights

  • THG’s Q325 revenue rises 6.3%, marking the highest organic growth since Q4 2021.
  • THG Nutrition achieves 10.0% YoY revenue increase, driven by online and offline channels.
  • THG Beauty records 4.2% YoY growth, supported by advent sales and UK retail momentum.

THG PLC (LSE:THG) has issued its trading statement for the third quarter ended 30 September 2025, recording total revenue of GBP 405.2 million, a 6.3% increase on a continuing currency (CCY) basis. Growth was driven by a 10.0% year-on-year rise in THG Nutrition and a 4.2% increase in THG Beauty.

Year-to-date total revenue reached GBP 1,188.7 million, representing a 0.3% increase in CCY terms. Disposals and discontinued activities reduced Group Q3 revenue growth by 270 basis points, while asset disposals in THG Beauty, including the sale of the luxury portfolio, impacted growth by 380 basis points. The sale of Claremont Ingredients affected THG Nutrition growth by 40 basis points in Q3.

THG Beauty Performance

THG Beauty delivered Q3 revenue of GBP 258.2 million, up 4.2% in CCY. Growth came from advent sales, UK retail, and newly launched brands. Subscription revenue rose 22% year-on-year, boosting order frequency and customer lifetime value.

Revenue was partly offset by the sale of the luxury portfolio, other asset disposals, and strategic withdrawals from certain European and Asian markets. The launch of the updated Ameliorate product range in Q3 included packaging made with Prevented Ocean Plastic™ (POP) as part of ongoing sustainability initiatives.

THG Nutrition Performance

THG Nutrition generated Q3 revenue of GBP 147.0 million, a 10.0% increase in CCY. Growth was supported by selective online product pricing, expansion in social commerce and marketplace channels, and a 50% year-on-year increase in customer subscriptions compared with H1 2025.

 

Retail expansion in the US included Myprotein’s Clear Whey range launching in 2,500 CVS stores. The brand also expanded its presence in the Middle East through Spinneys Supermarkets. Notable partnerships included Jimmy’s Iced Coffee, UK protein dessert leadership with Myprotein x Müller Protein Mousse, and HYROX co-branded products for hydration and endurance. Collaboration with Everlast Gyms introduced about 60 in-gym Myprotein Kitchens in the UK and Ireland.

Outlook and Guidance

The Board’s interim guidance for H2 2025 remains: THG Beauty growth of 1.0% to 3.0%, THG Nutrition growth of 10.0% to 12.0%, and Group growth ranging from 3.9% to 5.9%.

Q3 revenue growth of 6.3% places the Group within this range. Full-year expectations remain in line with company consensus, as THG enters its most profitable and cash-generative period.

Matthew Moulding, CEO of THG, commented:
"In THG Beauty, our focus on commercial discipline and elevating the brand proposition has driven a return to revenue growth, supported by a strong advent launch.
"Within THG Nutrition, we remain on track with our focus on expanding Myprotein's D2C market share, alongside accelerating our global offline presence through retail and brand partnerships. A number of exciting new partnerships are set to be announced soon, helping us to further build on this year's positive momentum.
"Our progress is a direct result of the strategic initiatives and operational change we have implemented, and we are well positioned for the key trading period ahead."

Share performance

The company is currently trading at GBX 39.63 up by 5.92% from its previous close of GBX 37.42