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THG Plc (THGHY) Q3 2025 Sales Call Transcript

Operator

Good morning, and welcome to THG’s Q3 2025 Trading Statement. We are joined today by THG’s Chief Executive Officer, Matthew Moulding, and members of the executive team. [Operator Instructions]

I would now like to hand the call over to Matthew Moulding. Please go ahead.

Matthew Moulding
CEO & Director

Good morning, everyone, and thank you for joining us for THG’s trading update for the third quarter of 2025. As we announced in the statement this morning, trading momentum has continued to improve with organic growth hitting its highest rate since COVID. THG Beauty and THG Nutrition are now both in growth with the group delivering revenue growth of 6.3% in the quarter, reflecting payback on the business model changes made throughout 2024 and earlier.

Now looking at our businesses in more detail. In THG Beauty, a return to growth was supported by a strong advent calendar launch and solid momentum in U.K. retail, including double-digit revenue growth for Lookfantastic, demonstrating the strength of our online retail proposition. After a weaker start to the year, performance in the U.S. was much stronger with increasing loyalty through subscriptions and category growth outside of our core in prestige skincare. In THG Nutrition, Myprotein achieved revenue growth of plus 10% with growth in both online and offline channels. Social commerce and marketplace channels are delivering particularly well, and we’re increasingly launching exclusive products on platforms such as TikTok, including the recently launched Myprotein and Jimmy’s Iced Coffee Impact whey protein.

These exclusives drive engagement

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